The England international's future is currently the subject of much speculation, with a number of clubs believed to be keeping a close eye on the midfielder's situation in the English capital.
Rice's current deal with the Hammers has two years left to run, with the option of a further 12 months, but it is understood that he has been offered the chance to sign a new eight-year contract.
The 23-year-old is believed to have informed David Moyes's side that he does not want to pen the long-term deal, which would be worth in the region of £200,000 a week.
According to Sky Sports News, Rice has rejected the deal, worth a potential £83m, and he is open to leaving the Hammers during this summer's transfer window.
The report claims that West Ham value the midfielder in excess of £150m, and while they are not open to a sale this summer, he could leave in 2023 for the right price.
Rice has again been in strong form for West Ham during the 2021-22 campaign, scoring five times and registering four assists in 48 appearances in all competitions.
In total, the former Chelsea youngster has scored 10 goals and registered nine assists in 193 appearances for the Hammers since making the breakthrough into the first team.
He played a leading role in Moyes's side reaching the semi-finals of this season's Europa League, scoring three times in 10 appearances, while the Englishman has also starred in the Premier League, scoring once and providing four assists in 34 appearances.
Money is allegedly not the driving factor behind Rice's decision to consider his future, rather the chance to play in the Champions League on a yearly basis, in addition to challenging for major trophies.
Chelsea have also been strongly linked with the midfielder, but the Blues are currently banned from making new signings due to their ownership problems, and it remains to be seen how much money Thomas Tuchel's side have to spend ahead of the 2022-23 campaign. body check tags ::