According to a report by Football London on Tuesday, October 20, 2026, transfer journalist Fabrizio Romano provided an update in a video shared on X, indicating that discussions between the midfielder and the north London club have advanced considerably.

“The agreement between Arsenal and Rice over new deal is getting to the final stages,” Romano explained, suggesting that both parties are moving closer to reaching an agreement.

The journalist added that negotiations over Rice’s salary are almost complete, with the remaining discussions centred on the length of the contract and other outstanding details. Arsenal are reportedly confident that the process will conclude successfully.

Rice has become an influential figure within the squad since arriving from West Ham United in 2023. His contributions have earned him considerable respect from the club’s supporters, teammates, directors and manager, making him a central part of Arsenal’s long-term ambitions.

The latest update follows earlier reports from BBC Sport indicating that negotiations had already reached an advanced stage. The progress now being reported suggests that the club could soon finalise the terms of the midfielder’s improved agreement.

Rice currently earns approximately £240,000 per week, but his proposed new contract could increase his salary to around £350,000 weekly. If those figures are confirmed, he would join Bukayo Saka among Arsenal’s highest-paid players.

The England international arrived at the Emirates Stadium in 2023 after Arsenal paid West Ham a reported £105 million, setting a club transfer record. His current contract runs until 2028, although Arsenal retain an option to extend it by a further year.

Despite having several seasons remaining on his existing agreement, the Gunners are keen to reward his performances and reinforce his importance to Arteta’s project. Rice has reportedly remained satisfied with life at the club since making the move from West Ham.

His value was again demonstrated during Arsenal’s recent victory over Nottingham Forest, when he produced an important late defensive block to help preserve the team’s advantage and secure three valuable Premier League points.

Arsenal will now hope the midfielder continues delivering influential performances as they prepare for Wednesday’s Champions League meeting with Bayern Munich.

With discussions reportedly nearing completion, the club’s priority is to settle the remaining contractual details and secure Rice’s commitment for the long term. A successful agreement would provide further stability to Arteta’s plans while recognising the midfielder’s growing importance to the team.