Arsenal have reached an agreement to sign West Ham United midfielder Declan Rice in a deal worth over 100 million pounds ($127 million), British media reported.

The 24-year-old England international had received permission to undergo a medical this week ahead of his move across London, the Guardian said.

The report added that West Ham had accepted an offer worth 100 million pounds plus 5 million in add-ons, with the guaranteed portion of the fee expected to be paid in three instalments over two years.

Reuters has contacted both clubs for a comment.

West Ham chairman David Sullivan said last month that a gentleman's agreement meant Rice can leave despite a year remaining on his contract with the option to extend it by a further 12 months.

Rice joined West Ham's academy from Chelsea as a teenager and has been a mainstay since his breakthrough campaign in 2017-18. He has played over 200 games for the club and helped them win the Europa Conference League last month.