By Pete O'Rourke

4th Aug, 2022 | 7:30am

Sources: Leicester sources reveal James Maddison to Newcastle update today

Leicester City have told Newcastle United James Maddison is not for sale this summer after rejecting two bids for him, sources from the club have told Football Insider on Thursday.

The Foxes have knocked back offers of £40m and £50m for the playmaker, 25, from Eddie Howe’s side.

Leicester have made it clear they have no plans to sell Maddison before the 31 August cut-off despite needing to raise funds to make their own signings.

This is the latest twist in the future of the attacking midfielder following a series of formal moves over the last week.

This site revealed on Tuesday (2 August) that the Foxes had rejected the Magpies’ two bids for the playmaker, the second of which represented a club record.

Leicester boss Brendan Rodgers has maintained that his side will not be held to ransom in the transfer market despite their suboptimal financial situation.

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They remain the only Premier League side not to have added to their squad ahead of the 2022-23 season.

Maddison, who is under contract at the King Power Stadium until 2024, was Leicester’s top scorer last term with 18 goals from 53 appearances.

Newcastle want to make him their fourth addition of the summer window after completing deals for Nick Pope, Matt Targett and Sven Botman.

The Tynesiders begin the new campaign against Nottingham Forest on Saturday (6 August).

Leicester then host Brentford the following afternoon.

In other news, medical insider predicts Ricardo Pereira out for “seven months” after Leicester City latest.