Leicester City 'not prepared to pay Islam Slimani asking price'

Leicester City are reportedly close to pulling out of a move to sign Islam Slimani from Sporting Lisbon as they are not willing to be held to ransom over the striker's asking price.

The Foxes were understood to be closing in on a deal to sign the 28-year-old, who was also previously linked with Premier League rivals West Bromwich Albion.

However, it is claimed by the Leicester Mercury that City are refusing to pay the £34m that Sporting are holding out for - considerably more than the initial sum of £25.6m quoted in previous reports.

The Algerian is said to be desperate to join the English champions and link up with international teammate Riyad Mahrez, which could help Leicester's cause, but Claudio Ranieri may now turn his attention elsewhere with just three days to go until the transfer window closes.

Slimani is under contract at the Estadio Jose Alvalade until 2020.