The club decided to go all in for the midfielder in the summer transfer window as they agreed on a £105 million fee with West Ham to secure his services.
Now this may sound like a ridiculous amount of money for a player who has never played for a team in the traditional 'big six' but Rice's performances in the famous red and white shirt so far have more than justified this hefty transfer fee.
He has quickly become a fan favourite at the Emirates Stadium and a key member of Arsenal's squad, with his ability to consistently dictate games from midfield being a huge asset to the side.
Arsenal's upcoming fixture against the Hammers will be a bittersweet one for Rice as he will play against the side that he made his professional debut for and spent multiple years at, alongside captaining the squad in a trophy-winning campaign last season.
When asked about Rice's impact on the team ahead of Thursday evening's clash, Arteta had nothing but positives to say about his star player.
A common theme in Arteta's quotes on Rice is his understanding of how much pressure the 24-year-old has on his shoulders due to the amount of money that was spent on him.
The Spaniard said that the England international has handled the pressure in the finest manner possible as he stated the following:
“When they put you with that price tag, you have to carry that and it is not easy. I think he has done it in a brilliant way. He is a really humble guy and it's in the way he wants to learn, the way he takes positive criticism. I think he’s really powerful and I think he’s got more levels [of development] to go.”
Rice is evidently a top professional and his mental strength is a part of his game that often goes unnoticed.
Another key element to Rice's game is his versatility, as he is able to perform at an extraordinarily high level in a multitude of positions.
In the past few weeks, the 24-year-old has often found himself playing deeper in the midfield rather than his usual box-to-box position.
When asked about this shift in positions, Arteta quoted:
“I think he is playing more in a deeper role in the last few weeks, but as well playing in the #8, I think he can be an incredible player. He can be as a centre-back, sometimes stepping in if we need to. He has shown us as well that he has an eye for goal - when he is in the opponent’s box, he is a real threat.”
Having a player like Rice who can fill into any position on the pitch always comes in handy in the Christmas and New Year period where fixtures become overly congested and injuries start to occur on a more frequent basis.
When any Arsenal fan is asked to describe Rice with the first word that comes to mind, a very common answer would be the word 'leader'.
He has an indescribable aura about him that very few players possess, which is an extremely important trait to have as a central midfielder.
Since his early playing days, it has been clear that Rice would go on to become an integral part of a top team in the future, and now that time has come.
Arteta was asked what has surprised him the most about Rice, and his response was almost perfect.
“I love his presence on the pitch, he is there and he has got something special. I felt it when we played against him, that’s when I was mad to sign him, because you get that feeling about players and I wanted him to be part of our team.”
With the backing of his manager, Rice should continue to flourish in an Arsenal shirt. Undoubtedly, it will be a weird feeling once again when the midfielder steps on the pitch against his former teammates as well as some staff who he has known for as long as ten years.
It will be only 204 days since the night that changed his life, winning the UEFA Conference League Final and becoming only the third captain in West Ham history to win a piece of silverware, alongside Irons legends in Bobby Moore and Billy Bonds, who both have stands dedicated to them at the London Stadium.
However, it is now time for the 24-year-old to do it in red and white. In the next 200 days, Rice has the opportunity to etch his name into Arsenal folklore, as they hunt their first Premier League title since the Invincibles of 2003/04.
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