Arsenal will switch their attention to signing £50million-rated Southampton star Romeo Lavia once moves for and are completed.
The Gunners expect to complete a deal for United captain Rice this week after the international cut short his summer holidays to undergo a medical.
Arsenal have agreed a fee of around £105m for Rice and he’s set to become their record signing.
Timber, 21, is close to finalising a move to the club in a move that could rise to around £44m.
With Kai Havertz having joined in a £65m deal, Arsenal’s spending will top the £200m mark with Rice and Timber’s arrival.
But the Gunners won’t stop there, with the claiming that Southampton midfielder Lavia is next on their list.
The former Manchester City ace joined Southampton last summer and excelled despite the Saints’ relegation.
Liverpool, Chelsea and Manchester United have all shown interest in Lavia, who is not willing to remain in the Championship.
But the Times say Arsenal will compete for his signature and would be willing to spend up to £50m on the defensive midfielder.
Granit Xhaka is set to join Bayer Leverkusen for a fee of around £21.5m, while Thomas Partey could move to Saudi Arabia.
Arsenal will then look at raising funds through the sales of Rob Holding, Kieran Tierney and Folarin Balogun.
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