Exclusive: Leicester City set for extra £10m+ after confirmed news
Leicester City are set to cut their wage bill by more than £10million after confirming three senior players will leave the club this summer, sources have told Football Insider.
The Foxes are preparing for life back in the Championship following their relegation from the Premier League.
Leicester finished the campaign third bottom and 13 points from safety, having only been promoted back to the top flight in 2023-24.
It was confirmed in April Jamie Vardy will leave Leicester at the end of his contract on 30 June.
The 38-year-old has spent the past 13 years with the East Midlands side after joining for £1million from Fleetwood Town in 2012.
Vardy registered 200 goals and 71 assists in 500 appearances for Leicester, where he won the Premier League, FA Cup, Community Shield and two Championship titles.
The club have confirmed goalkeepers Danny Ward and Daniel Iversen will also leave when their contracts expire on 30 June.
Leicester to make big savings after exits
Vardy is by far the highest earner at the King Power Stadium, with his salary understood to be worth around £140,000 a week.
The striker has been linked with multiple clubs since his departure was confirmed last month.
Meanwhile, Ward is believed to be on £40,000 per week as he prepares to leave Leicester, having joined from Liverpool in 2018 for £12.5million.
The 31-year-old has made just 52 appearances for the Foxes after struggling to nail down a regular starting spot.
Iversen’s salary is worth around £20,000 a week, with the 27-year-old making 12 appearances during his seven-year spell at the King Power after undertaking multiple loans.
Sources have told Football Insider Leicester will save around £10.4million once the three players leave the club next month.
Leicester face points deduction after new twist
Leicester are facing a points deduction after being charged with an alleged breach of the EFL’s financial rules for 2023-24.
The Foxes have been referred to an independent commission, with a points deduction likely to be the outcome after Everton and Nottingham Forest were previously docked points following their breaches.
Football Insider exclusively revealed on 20 May Leicester have decided to sack Ruud van Nistelrooy after he failed to keep them in the Premier League.
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