Leicester City could be about to sign Odsonne Edouard from Celtic for a “bargain” price, according to Kevin Phillips.

The 2000 European Golden Shoe winner, speaking exclusively to Football Insider, said the 23-year-old’s reported £15million asking price is “peanuts” when compared to transfers gone by.

The Daily Mail claim Leicester believe they have won the race to sign the French striker this summer for a fee in the region of £15million.

Football Insider revealed in January that the Hoops had slashed their asking price for Edouard from £40million to £25million.

But with the centre-forward fast approaching the final 12 months of his contract at Parkhead, it appears the club have once again lowered their valuation.

When asked by Football Insider for his thoughts on Edouard’s £15million price tag, Phillips said: “That is nothing.

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“It really is peanuts when you compare it to some of the transfers we have seen in the past.

“If you can get a player who is a ready-made replacement for Vardy at that price, it’s a bargain.

“You could afford to rest Vardy and use him in the games you really want if you had a player like Edouard in the squad.”

Edouard has scored 20 goals in 33 appearances across all competitions this season and is the Scottish Premiership’s top goalscorer with 16 strikes in 25 league games.

A move to Leicester City would see him reunited with former Celtic boss Brendan Rodgers.

In other news, Frank McAvennie is ‘delighted’ by the latest news on Eddie Howe potentially taking over at Celtic Park.