In addition to making major funds available to Mikel Arteta to strengthen his squad, Mail Sport understands the club will loosen constraints on their wage bill to ensure the team can attract sufficient talent to maintain their current status as genuine Premier League title contenders.
Arsenal will look to offset their anticipated spend by selling a number of players – with Granit Xhaka among the players in line to depart.
England midfielder Rice is the club’s priority target and Arsenal are willing to break their transfer record – which is currently at £72million for the signing of Nicolas Pepe in 2019 – to sign the West Ham star.
