Arsenal have been warned in their pursuit of Moises Caicedo amid reports of their desire to sign Declan Rice this summer.

Who do Arsenal want to sign?

The Gunners fell short in their title charge this season but it seems apparent Edu Gaspar and Mikel Arteta are not looking to waste any time in strengthening their side.

Indeed, according to reports, the north London side have had a bid ready for West Ham United's Rice for a while now and following the conclusion of the Irons' campaign they will look to launch that bid.

The Hammers have already suggested that they will not stand in the way of their Europa Conference League-winning captain following their triumph over Fiorentina on Wednesday night.

On Thursday, owner David Sullivan told talkSPORT that they have already promised the 24-year-old the possibility to move on over the coming months:

"I think it has to be [his last game]. We promised him he could go. He set his heart on going," he said.

"I think the offers will start to come today [Thursday]. There are three or four clubs who have shown interest, but out of respect to West Ham, while we're still playing, you don't make offers for players."

However, Arsenal have been warned against putting all their eggs into Rice's basket as it could potentially deter Caicedo away from a potential move to north London.

Speaking on The Football Terrace, presenter Terry Flewers has sent a warning to the Gunners about potentially sending the wrong message to the Ecuadorian midfielder:

"Maybe Arsenal have no intention of signing both. Maybe they do. But they're not going to say that to either Caicedo or Rice. They're going to tell them we're looking at both of you – potentially.

"They're going to tell Caicedo they're all in form him. They're going to tell Caicedo one thing or another to keep things on track."

"They may have all the intention in the world of buying both but if Declan Rice's deal falls through – let's not tempt fate – say he breaks his leg in the European Cup final, Arsenal are not going to buy him.

"But if they've told Caicedo: 'We're only going to come for you if we miss out on Declan Rice', he may reject signing the deal and opt for another team."

How much is Caicedo worth?

The Gunners had two bids knocked back by the Seagulls in the January transfer window with the second believed to be worth in the region of £70m.

And despite signing a new deal following the winter window, it is still believed the 21-year-old will be made available for sale by Brighton in the summer for a fee in the region of £70m-£80m.

Reports have claimed the Gunners have already reached an agreement with the player over a potential move, however, they have since been rejected by the reliable Fabrizio Romano.

But the notion of bringing in another big-money addition as well as Caicedo in the midfield could also prove a big attraction for the Ecuadorian.

It could provide the current Brighton midfielder with a clear idea where the Gunners are looking to go in the coming years having narrowly missed out on the title this season.

Equally, depending on how negotiations go, he may feel as if the north London side may be prioritising a move for Rice which may not go down well in his camp.

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