Manchester City chief executive Ferran Soriano has explained why his side lost out on signing Declan Rice to Arsenal.
The north London outfit submitted a club-record transfer offer of £100million, plus an additional £5million in add-ons, for Rice on Tuesday evening, football.london understands. That bid resulted in City pulling out of the race for the England international after previously seeing a £90million bid turned down by the Hammers.
The Gunners' offer proposed the guaranteed portion of the fee be paid over the course of four years whilst David Moyes' side ideally wants the money paid in two instalments by the start of 2025. But the issue has been described as minor and both teams now working towards reaching an agreement rather than bargaining over the price.
