By Editor Wayne Veysey | Former Evening Standard, Press Association and Goal chief correspondent with 17 years experience of breaking big stories, including exclusives like this

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Leicester agreed a deal to sell Jamie Vardy to Sheffield Wednesday in the summer for just £5million, Football Insider sources understand.

Ex-Leicester boss Nigel Pearson had sanctioned the departure of the record-breaking England striker but Wednesday’s new Thai owners pulled the plug at the last minute.

A Wednesday source has told Football Insider that Sheffield-born Vardy wanted to return to the area and the transfer had been all set to be completed.

Pearson was not convinced by the calibre of Vardy, who has gone on to take the Premier League by storm this season and top the scoring charts with 15 goals.

Leicester assistant manager Steve Walsh, who is now part of Claudio Ranieri’s backroom staff, wanted Vardy to stay but Pearson agreed the sale of the forward for £5million.

However, new Thai chief Dejphon Chansiri, who bought Wednesday last season from previous owner Milan Mandaric, was not convinced even though ex-manager Stuart Gray told him that Vardy was a special player.

White knight: Vardy has been one of the stars of the Premier League season

White knight: Vardy has been one of the stars of the Premier League season

Vardy has gone on to prove Gray and Walsh correct by spearheading Leicester’s climb to the Premier League summit.

The 28-year-old wrote his name into the history books by scoring in 11 consecutive Premier League games for the east Midlands club and has been one of the outstanding players in the top flight this season.