The Gunners are in the midst of a free-spending summer where Kai Havertz has already joined from Chelsea.
Jurrien Timber is also set to sign from Ajax but the biggest transfer will be that of Rice, who is on the brink of joining from West Ham for £105million.
And some Arsenal fans have noticed the England international already in cahoots with Gunners favourite Saka.
The 21-year-old posted on Instagram a picture of himself returning to the club's Colney training ground.
He captioned the post with a simple house emoji, but that was not what intrigued Arsenal fans as they noticed that Rice had liked the post.
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The top comments all read almost the same, with one reply saying: "Liked by Declan Rice."
"Declan rice has liked," another read.
And a third put: "Liked by Deccers."
Signing Rice will be a massive coup for Arsenal, who are ready to break the bank in a bid to make sure last season was not a flash in the pan.
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The 24-year-old has been linked with several top clubs while Manchester City made a late bid for the midfielder before being blown out of the water by the Gunners.
Mikel Arteta saw his side finish runners-up to his old club last season in the Premier League. But they led for most of the campaign before running out of steam in the final weeks.
Next season will mark the 20th anniversary of the club's legendary 'Invincible' season, where Arsenal went the entire Premier League campaign without losing a game.
With a return to the Champions League also coming next season, there is no better time than this summer to splash the cash.
As well as Timber and Rice, several other players have been linked with an Emirates switch including Romeo Lavia, Moussa Diaby and Ivan Fresneda.