Through a statement on Leicester’s website on Thursday morning, Leicester City have confirmed Jamie Vardy has agreed to extend his contract with the Premier League champions for four years.
The 29-year-old was subject to a £20m bid from Arsenal last month, meeting the release clause in his contract, but Vardy has elected to turn down the 13-time champions of England.
Vardy, named the Football Writers’ Footballer of the Year in May, scored 24 goals last season to propel Leicester to the most unlikely Premier League title triumph in recent history.
In the new contract, Vardy will be the most lavishly paid player in the club’s history.
“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.
“Jamie will continue to focus all of his efforts on trying to achieve success with the England team at the European Championships in France. There will be no further comment from either the club or the player on this matter until the conclusion of the tournament.”
Arsenal hoped a lucrative £120,000-a-week contract over three years, with the option for a fourth season, would persuade Vardy to leave the East Midlands.
The England striker, who scored for Roy Hodgson’s men against Wales last week, was offered improved terms on his previous £60,000-a-week package at the King Power Stadium and will now earn in the region of £100,000-a-week.
In a recent interview with Chinese television, Arsenal manager Arsene Wenger said: “Jamie Vardy is, at the moment, at Leicester and from what I know, he will stay at Leicester.”