Jamie Vardy was on the verge of joining Sheffield Wednesday from Leicester

By London correspondent Tony Hughes

Jamie Vardy will turn down Arsenal and stay at Leicester, according to club chief Aiyawatt Srivaddhanaprabha.

Arsenal are waiting for Vardy to decide on a transfer to Emirates Stadium after triggering the striker’s £22million release clause at the start of June.

Leicester vice-chairman Srivaddhanaprabha is convinced the England striker has already made up his mind about Arsenal’s offer.

“You will see the news very soon,” Srivaddhanaprabha told the Daily Mail. “But I think he will stay.

“I think, so let’s see. We need to build the team. We keep continuing to believe that we can do something special in the Premier League and the Champions League.

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“The Champions League is going to be amazing for Leicester, so let’s see. Leicester is the underdog and we can still be the underdog.”

The 29-year-old striker demonstrated his clinical qualities once again on Thursday as he scored the equaliser for England in their 2-1 win over Wales after coming off the bench at half-time.

It was Vardy’s fourth England goal in five matches and continued his brilliant domestic form, with his 24 Premier League goals spearheading Leicester’s Premier League title triumph.

Srivaddhanaprabha is in regular contact with Leicester manager Claudio Ranieri as they discuss summer transfers and their striker’s situation ahead of next season.

The England international could have signed a deal before flying to France for the Euro 2016 but wanted to delay his decision until after the tournament.

Vardy will get the final say on whether he stays or goes but Leicester are already planning for next season on the basis that their star striker stays.

In other Arsenal transfer news, the club are ready to sell a 23-year-old attacker amid interest from two Premier League outfits.