Jamie Vardy: Leicester City announce England striker has signed new four-year contract extension as Arsenal bid fails

LEICESTER CITY have announced they have extended the contract of Jamie Vardy.

Arsenal had made a £20m bid for the striker, but now he has signed a four-year-extension to his current deal, worth a reported £100,000 per week.

Vardy, who scored 24 league goals last season as the Foxes charged to a remarkable 5,000-1 Premier League triumph, was the subject of interest from Arsene Wenger before he headed off to Euro 2016, but now he will be staying with the champions.

The Gunners had triggered the 29-year-old’s £20m release clause, but he has rejected them to stay at the King Power Stadium as Leicester defend their title next season, while chasing Champions League glory.

A club statement read: "Leicester City have today agreed with the representatives of Jamie Vardy to extend the England international’s contract with the Premier League champions for a further four years.

"Both parties hope that this announcement will end recent speculation regarding Jamie’s future and confirm his long-term commitment to Leicester City Football Club."

Vardy is currently on England duty at Euro 2016, who take on Iceland in their Last 16 tie on Monday in Nice.

With Vardy staying at Leicester, which strikers will Wenger now target in the transfer market? Click here for transfer analysis.