Arsenal are "quietly confident" that they can sign West Ham United midfielder Declan Rice for around £75m, CBS reporter Ben Jacobs has told GIVEMESPORT.

It's still quite a large fee; however, Jacobs says the Gunners see that price as value for money.

Arsenal transfer news — Declan Rice

Transfer insider Dean Jones recently told GIVEMESPORT that Arsenal and Mikel Arteta could make their first move for Rice in June.

However, the north London club could face competition from rivals Chelsea, who are also thought to have the 24-year-old on their radar.

According to Sky Sport reporter Florian Plettenberg, the Blues are "definitely in the race" for Rice and have made him one of their top midfield targets.

West Ham find themselves caught up in a relegation battle and Rice's contract is up next year, so the Hammers could be forced to sell their captain this summer.

What has Ben Jacobs said about Arsenal and Declan Rice?

Jacobs says Arsenal are now under the impression that they can land Rice for a fee between £75m and £80m.

Speaking to GIVEMESPORT, the journalist said: "I think that suitors like Arsenal and Chelsea, who may even be in the race as well, are quietly confident that they can get a player like Declan Rice for something between £75m and £80m, which sounds like a lot of money, but I think Arsenal see that as value. And I think that summarises how they'll act in the summer generally.

"It's not about how much they spend because they will have that financial muscle. It's about finding value in the market and that's always been Arsenal's model. I don't expect that to change regardless of winning the Champions League or the Premier League. They've never wanted to put it out there in the market that they're prepared to spend wildly above the odds, even on a player that they so desperately want."

Should Arsenal pay £75m for Declan Rice this summer?

Again, it's not exactly a small amount of money, but it's not a ridiculous fee to pay. Rice is an England international and a defensive midfielder who's really excelled in the Premier League.

As per FBref, the West Ham star has ranked in the 96th percentile for interceptions and the 87th for progressive carries among his positional peers over the last year.

He's quite a well-rounded midfielder who has time to grow, so spending £75m on him in this current market doesn't sound too crazy.