Jamie Vardy to Arsenal: Gunners confident of sealing transfer within 24 hours as Leicester fight to keep striker

Arsenal have activated Vardy's release clause but Leicester will offer him an improved contract to try and keep the England international at the King Power Stadium

Jamie Vardy will choose whether to join Arsenal or stay with Leicester (Getty)

Arsenal hope that striker Jamie Vardy will choose to join them within the next 24 hours despite Leicester City preparing a new contract offer in a bid to keep the England international at the club.

News emerged on Friday night that Arsenal had activated a release clause in Vardy’s contract, believed to be around £20m, with talks opening to try and structure a move before the start of the Euro 2016 Championship this Friday.

With Vardy offered a four-year deal on wages in excess of £100,000-a-week, according to The Telegraph, Arsenal are expecting to seal their second transfer of the summer having already sealed the acquisition of Granit Xhaka from Borussia Monchengladbach.

Arsenal have held talks with Vardy’s agent, John Morris, given that the 29-year-old is flying out to France with the rest of the England squad later today. After scoring 24 goals in the Premier League this season – bettered only by Harry Kane’s haul of 25 goals – and firing Leicester to a remarkable title triumph, Vardy has caught the eye of Arsenal manager Arsene Wneger. The Frenchman has identified Vardy as the man who can help Arsenal get their hands back on the Premier League trophy after a 13-year wait.

Vardy will also cover the absence of Danny Welbeck, with the England international expected to miss the rest of 2016 with his second serious knee injury in as many seasons.

Leicester, however, are not willing to let Vardy go without a fight, and it’s added that the Foxes will offer Vardy a new contract even though he signed his last deal in February this year. The striker is currently on just over £60,000-a-week, with Leicester’s new offer set to significantly increase that figure on what would be a one-year extension to his existing deal, which is due to expire in 2019.

While Arsenal are said to be relaxed over the situation and remain confident of landing their target, the club will not try and rush through a deal. They are keen to sign Vardy before the Euros get underway though, meaning that any transfer would need to be agreed this week with Vardy undergoing a medical and signing the relevant paperwork.