ARSENAL are trying to sign Jamie Vardy after sensationally matching a £20m release clause for the Leicester striker.
Jamie Vardy scored 24 goals as Leicester were crowned Premier League champions
The two clubs are now in discussions with Arsenal seeking to finalise the move before Euro 2016 , although Premier League champions Leicester are determined to try and keep hold of the England forward.
Vardy only signed a new £70,000-a-week contract in February.
The timing of Arsenal’s move is significant because it is understood that the clause is time sensitive with June 3 representing a cut-off point after which his value is no longer set.
Vardy’s new three-and-a-half-year deal runs until 2019 but Leicester’s Thai owners could rip it up and replace it inside four months with a more lucrative contract in an attempt to keep him at the King Power.
Manager Arsene Wenger was at Wembley on Thursday as Vardy, who plundered 24 goals to propel Leicester to a remarkable title success, played for his country in the friendly win over Portugal and is pressing ahead with a deal.
A move to The Emirates will appeal to 29-year-old Vardy and constitute the next chapter in a remarkable rise that is already set to be turned into a Hollywood film.
He could earn around £120,000-a-week at the Gunners.
Wenger is poised for one final season in charge of Arsenal next term and has moved quickly to try and strengthen his forward options.
Arsenal and other Premier League clubs, including Manchester United, were approached about Vardy but the Red Devils reportedly backed out of a deal.
Sky Sports sources say United didn’t want to impede Marcus Rashford’s future success and so opted out of bringing in the 29-year-old England striker.
Vardy returned home from international duty after the success over Portugal, but is due to report back with Roy Hodgson’s squad before they fly to France on Monday.