Jamie Vardy to Arsenal: Ray Parlour claims £20m switch for Leicester City striker 'looks like it isn't happening'

The Gunners hoped to complete a deal for Vardy before the start of Euro 2016

Jamie Vardy scored 24 goals for Leicester City last season (Getty)

Arsenal were on standby for Jamie Vardy’s medical but were forced to cancel after meeting the £20m release clause in his Leicester City contract last weekend, according to former Gunners midfielder Ray Parlour.

The 13-time English champions had hoped to complete a deal for Vardy before the start of the European Championship but have been forced to wait for news as he considers a lucrative three-year £120,000-a-week contract with an option for a fourth season.

Champions Leicester are believed to have tabled a counter offer worth in the region of £100,000-a-week over three years. Paul Merson, another Arsenal legend, said last week that he is “flabbergasted” by the club’s decision to meet the release clause.

But Parlour, who played alongside Merson for five years at Highbury, does not believe the north London outfit will be able to get the deal over the line after Vardy requested more time to consider his options.

The 43-year-old told talkSPORT: “It looks like it isn’t happening now. I was at the Arsenal the other day and there were big reports flying around, and the club’s cameramen and digital staff had to get down to the training ground.

“So it looked like it was going to happen - there was a medical being done. But it seems Vardy thought about it while on England duty, and suddenly there was a U-turn.”