Vardy rejects Arsenal, signs new contract with Leicester City

Jamie Vardy had been subject of a £20 million bid from Arsenal, but Leicester City have today confirmed that the England striker has put pen to paper on a new four-year deal to remain at the King Power Stadium.

Arsenals shock move for Vardy was made earlier this month, and the £20 million fee triggered a release clause in the player's contract, meaning that the Premier League champions were powerless to prevent their star man from moving to the Emirates if he agreed terms with the Gunners.

But reports over the last few weeks had begun to circulate suggesting that Vardy was beginning to lean towards shunning Arsenal's approach in favour of staying at Leicester.

A statement released by the Foxes this morning has confirmed Vardy's decision to stay, with the former Fleetwood Town striker signing a bumper four-year deal.

Vardy, 29, scored 24 goals in Leicester's fairytale title-winning campaign, and broke former Manchester United striker Ruud van Nistelrooy's record for scoring in the most consecutive Premier League games.

Vardy is currently on international duty with England at the UEFA European Championship in France, and it was thought that any decision on his future would not be made until he returns.

But Leicester have moved to put all of the speculation around Vardy's future to bed with their announcement today.

Arsenal manager Arsene Wenger will now turn to other targets as he looks to bolster his attack ahead of next season.