Jamie Vardy not moving:

LEICESTER. — Leicester City struck an early blow ahead of the new English Premier League soccer season when leading striker Jamie Vardy signed a four-year contract extension with the champions yesterday.

Vardy gave a huge boost to champions Leicester by rejecting an offer from Arsenal to sign a new contract.

The 29-year-old striker — presently on duty with England at the Euro 2016 finals — agreed to an improved fouryear contract offer from “The Foxes” and spurning Arsenal’s advances after they activated a £20 million release clause.

The England striker has been deliberating a move since Arsene Wenger triggered his £20 million release clause on June 3 but has ultimately decided to remain at the King Power Stadium.

Leicester reacted swiftly to Arsenal’s offer of £120 000 per week by making a counter bid of fresh terms worth around £100 000 per week and Vardy will sign on again once Euro 2016 is over.

Above the difference in basic pay, Vardy would have earned even more at the Emirates in light of the club’s greater commercial pull but always felt a strong attachment to Leicester and their style of play.

The 29-year-old’s new contract sees him commit until summer 2020 – taking him to the age of 33 – and represents good news for the club given the effect it will have on the rest of the squad.

“Leicester City have today agreed with the representatives of Jamie Vardy to extend the England international’s contract with the Premier League champions for a further four years,” the club said in a statement yesterday.

“Both parties hope that this announcement will end recent speculation regarding Jamie’s future and confirm his long term commitment to Leicester City Football Club.”

There were fears that Vardy’s departure could have sparked an exodus of Leicester’s key players such as PFA Player of the Season Riyad Mahrez and N’Golo Kante.

Instead, the 29-year-old has signalled his intent to consolidate Leicester’s new-found status and lead them in their first Champions League campaign.

Former Leicester and England striker Gary Lineker applauded Vardy’s decision to turn down a move.

“A show of loyalty from @vardy7 and a show of ambition from @LCFC is to be applauded. Jamie to #remain” BBC presenter Lineker said on his Twitter account.

Media reports say Vardy’s salary will rise to 100 000 pounds per week.

Mahrez, who has also been offered an improved deal by Leicester, was known to view Vardy’s future as a factor in his own decision on whether to stay or ask to leave.

Leicester will hope Kante can also be persuaded to commit to the club in light of the developments.

For Vardy, it is a second new contract in five months, having signed up until 2019 back in February on wages worth £80 000 per week.

The release clause, attainable to any interested party in the Champions League, was inserted as a compromise due to Vardy receiving less than the six-figure weekly deal generally brought home by the Premier League’s elite forwards. — Reuters.