Arsenal currently want to sign Declan Rice from West Ham as they are in the race with Manchester City.
According to Daily Mail, the Gunners have communicated their intention to the Hammers to make third bid for the star with a price closer to his £100m price tag.
Manchester City's first offer for Rice worth £90million was turned down by the Hammers on Tuesday.
The Gunners have already seen their two bids rejected and are considering to return with a third offer, which is viewed as a verbal offer, reports Mail Sport.
Manchester United are also interested in the player, however, the Red Devils are considered as outsiders in the race.