Speaking to Sky Sports, Gary Neville said: "I love Declan Rice but when I look at world-class holding midfielders, he doesn't score or assist enough goals. You're putting him into that category of more of a destroyer.
"You've got to be someone who is highly competent on the ball and linking play, having that knowledge of the subtleties of getting on the ball from the back four. Declan needs to go and work under a different set-up.
"I think there's a lot of growth, For me, I wouldn't be spending £120 million on Rice if I was Manchester United this summer. I would spend £50 million-£60 million, but I wouldn't spend the figures being reported."
Rice is likely to leave West Ham in the summer transfer window after turning down several contract renewal offers from the London side.