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Leicester City transfer news: Burnley join the race for Troy Deeney as Foxes miss out on Fraizer Campbell

Premier League new boys Leicester are joined by Burnley in the hunt for Watford's star striker after failed bid for Fraizer Campbell

Leicester City are facing competition from fellow Premier League newcomers Burnley for the signature of Watford hitman Troy Deeney.

Nigel Pearson's side raced to the Championship title last season, amassing 102 points, and have since strengthened their squad with Leonardo Ulloa, Marc Albrighton, Matt Upson and Charlton goalkeeper Ben Hamer.

According to the Daily Mail, Watford have rejected a £7.5m offer for Deeney from Leicester in the hope of receiving a deal similar to the £8m + add-ons package which the Foxes paid Brighton and Hove Albion for Ulloa.

The 26-year-old scored twenty-five goals in all competitions for the Hornets last season.

Sean Dyche, the Burnley manager is unfazed by the asking price despite his comments about Leicester being 'market leaders' last season.

Pearson was also hopeful of sealing a deal for Cardiff City striker Fraizer Campbell, who scored six Premier League goals in South Wales last term, but Crystal Palace have since finalised a deal for the former Sunderland man.

Chris Wood's protracted move to Wolverhampton Wanderers is reliant on the Foxes bringing in more attacking firepower - to compliment Ulloa, Jamie Vardy and David Nugent - and appears under threat with Kenny Jackett turning his attention to Chelsea's Patrick Bamford.

Upon completing the deal for Ulloa, Pearson told the club's official website: "We identified Leo as a player that could help us move forward quite some time ago.

"He complements the forwards we already have very well and his attributes broaden the options available to us, which will be important this season. I’m delighted we’ve been able to add him to the squad."

The former Southampton manager is also said to be considering a move for Algerian star Islam Slimani, who would join up with his international teammate Riyad Mahrez at the King Power Stadium, but reports that City have made a bid appear premature.

Leicester are currently on a pre-season trip to Thailand and will play Everton this week.