Arsenal are reportedly readying their first offer for top midfield target Declan Rice, but the Gunners will not approach West Ham United before the end of the season.
Mikel Arteta is expected to oversee a significant midfield shake-up in the summer window and is said to be after at least two new fulcrums in the engine room.
Hammers skipper Rice is believed to have been identified as a priority signing, as the Europa Conference League finalists are apparently resigned to losing him in the upcoming window.
West Ham boss David Moyes has hitherto refused to entertain the idea of selling his skipper, but he has now conceded that there is a "good chance" that he will seek pastures new in the coming weeks.
Rice is only contracted to West Ham for another season, but the London club are still said to be holding out for an extortionate £100m fee to sanction a sale amid links with several top European clubs.
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Manchester United, Liverpool and Manchester City have all been tipped to move for the 24-year-old, who is also thought to be attracting the attention of German champions Bayern Munich.
However, Arsenal are currently regarded as the favourites for his signature, and according to Fabrizio Romano, the Gunners are now formulating their opening proposal.
Romano adds that out of respect for West Ham, Arsenal will not begin talks with their capital counterparts until the end of the season and are planning to ignite negotiations in June.
The Hammers are still not mathematically safe from relegation in 15th place in the Premier League table, but Rice has captained the club to the Europa Conference League final with a 3-1 semi-final aggregate win over AZ Alkmaar.
Moyes's men will meet Serie A side Fiorentina in June's final, where the winner would seal a spot in the Europa League, but Rice has a known desire to compete in the Champions League.
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The former Chelsea youngster has spent 10 years at West Ham since leaving the Blues' academy and has represented the first team on 242 occasions, scoring 14 goals and setting up 13 more in the process.
Rice has contributed four goals and four assists from 47 appearances in the current season and could arrive at the Emirates as a replacement for Granit Xhaka, who is thought to be on the verge of joining Bayer Leverkusen in a £13m deal.
Arteta refused to rule out a summer exit for Xhaka when questioned on Friday, but the Switzerland international is only under contract until 2024, and Arsenal are believed to have given him their blessing to return to Germany.
As well as Rice, Arsenal are expected to try again for Brighton & Hove Albion's Moises Caicedo, having seen two offers for the Ecuadorian starlet rejected by the Seagulls in January.
The Gunners sit four points behind Manchester City in second place ahead of Saturday's trip to Nottingham Forest, where defeat would hand Pep Guardiola's side the title.
Even if Arteta's side claim all three points at the City Ground, their hopes of a fourth Premier League crown will be extinguished if the champions get the better of Chelsea on Sunday.
Ben Knapton
