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Leicester City are rumoured to be preparing to offer star striker Jamie Vardy a new £140k-per-week contract, as they look to ward off interest from potential suitors in the upcoming summer transfer window.

As reported by the Sun, the Foxes are desperate to hang onto the England international after his superb season, which has seen the player score 20 goals in all competitions in a blistering run of form. 

The 31-year-old is currently the highest paid player at the club on £100k-per-week, but the east Midlands side could look to break their stringent wage policy again to retain Vardy's services.

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Vardy has become notorious for his relentless pace and natural finishing ability, becoming one of the league's top strikers after a monumental rise from England's lower leagues to the top flight. Arsenal were believed to have come close to signing Vardy in 2016, but he spurned the opportunity and could look to do so again by committing his future to the Foxes.

While it appears that Vardy will remain at the club, it is likely that Riyad Mahrez will finally get his wish and be allowed to leave the King Power Stadium, after repeated attempts to engineer an exit. Manchester City are the Algerian international's most likely destination, with the Premier League champions ready to offer around £65m to seal the long awaited deal.

Meanwhile, the Foxes are believed to be in the running to sign forgotten Manchester United man Marouane Fellaini on a free transfer this summer, after the Belgian international runs down his existing contract at Old Trafford. 

The 30-year-old has struggled for first team opportunities since joining the club, and is set to leave in pursuit of one final big pay day.