Having turned down offers of a new contract last summer, the England international is expected to leave the London Stadium at the end of the season with manager David Moyes insisting his suitors will need to smash the British transfer record set by Enzo Fernandez’s move to Chelsea in January.
Arsenal have made Rice their top summer target and believe they have edged ahead of Chelsea in the race for his signature.
Manchester United also have long-term interest in the 24-year-old with Ferdinand, who made the same move from east London to Old Trafford in 2002, believing the midfielder has ‘done enough’ to get the supporters’ blessing.
‘With Rice, he has still got levels to go with his game,’ Ferdinand told BT Sport ahead of West Ham’s Premier League clash with Chelsea.
‘He is still a young player and he does a job here at West Ham but I still think if it is here or elsewhere, I think there are other parts of his game that he is still looking to develop himself and that will come out from being extracted by other coaches.’
He continued: ‘He could stay here and have a career like Mark Noble.
‘Fans will hate me for saying it… I was a player in his shoes once, quite identical in many ways.
‘I wanted to win things, I wanted to do it at West Ham but it wasn’t possible. The fans respected that. He has done enough in his time here for the fans to respect any decision that he makes.’
Rice is eager to experience Champions League football with Arsenal, who hope to return to the competition as league winners, the favourites to sign him.
Reports in January claimed the player also favours a move to the Emirates, eager to work with Mikel Arteta.
‘I have been playing consistently well for [my] club and I feel like I really want to keep pushing,’ Rice said last year.
‘I see my friends here who are playing in the Champions League and for big trophies… you only get one career and at the end of your career you want to look back at what you have won and the biggest games you have played in. I am really ambitious.’
MORE : Arsenal, Chelsea and Manchester United warned that Declan Rice’s natural position may change
MORE : Joao Felix blown away by Chelsea January signing Enzo Fernandez and defends price tag
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