Saturday 4 June 2016 17:40, UK
Jamie Vardy could become only Arsenal's fourth signing over £20m since they last won the Premier League title in 2004.
That figure pales in significance to Arsenal's rivals Manchester United, Manchester City, Chelsea and Liverpool, who have all signed at least three times as many players for £20m or over.
Arsenal are interested in signing Leicester's star striker Vardy and would like to hold talks with Leicester about signing the striker, Sky sources understand.
It is understood the 29-year-old England striker has a £20m release clause in the new four-year contract he signed in February, and the Gunners are prepared to meet that clause.
It would be Arsene Wenger's second signing of the summer, after Swiss midfielder Granit Xhaka made the move from Borussia Monchengladbach for around £30m last month, the third-highest fee in their history.
Mesut Ozil moved to the Emirates from Real Madrid in 2013 for £42.5m, before Alexis Sanchez also made the move from Spain, signing in 2014 for £35m from Barcelona.
In comparison, Manchester City have made 18 signings over £20m since Arsenal last lifted the Premier League trophy, while Chelsea have signed 16 and both Manchester United and Liverpool have signed 12.
Wenger has been judged in recent years for the lack of big-money signings, a critique which came to a head last summer as Arsenal claimed the unwanted tag of being the only club in Europe's top five leagues not to sign an outfield player.
In the 12 campaigns since the Invincibles lifted the Premier League trophy, the Gunners have always finished in the top four, winning the FA Cup in 2005, 2014 and 2015, and the self-funding business model is a continuing ambition for chief executive Ivan Gazidis.
Gazidis said last year: "We continue to look to develop every aspect of our operations while remaining true to our principles around being self-funding, investing in youth, our style of play and our commitment to our fans and to our place in the community. We are focused on delivering more success."
In comparison, Manchester City have won the Premier League twice, the FA Cup and the League Cup twice in that period, making 18 big-money signings over £20m, the most expensive being Kevin De Bruyne for £54.5m from Wolfsburg last summer.
Chelsea have lifted the Premier League four times, the FA Cup four times, the League Cup three times, the Champions League and the Europa League, with Fernando Torres' £50m transfer from Liverpool in 2011 the most expensive of their 16 signings over £20m.
Liverpool, who have made 12 signings over £20m, have also claimed more trophies since 2004 than Arsenal, winning the Champions League in 2005, before an FA Cup and League Cup victory in 2006 and 2012 respectively.
Manchester United have been the most successful English side since Arsenal's last title win, claiming the Premier League five times, the Champions League in 2008, the Club World Cup, three League Cups and the FA Cup last month.
Arsenal fans can take comfort in the fact that north London rivals Tottenham, who finished below the Gunners for the 21st season in succession, have only signed two players over £20m since 2004, and have claimed just one League Cup crown.
But the link between big-money signings and success is not always clear, as the fortunes of Liverpool, Manchester United and Chelsea's record signings all showed.
Torres, who scored 81 goals in three-and-a-half superb seasons for Liverpool, had an indifferent stint at Chelsea, scoring one goal in his first 23 appearances and netting at a rate of just one goal every four games during his time at Stamford Bridge.
Manchester United's record signing Angel Di Maria, who moved for £59.7m from Real Madrid in the summer of 2014, lasted just one season at Old Trafford before moving to PSG, while £35m Andy Carroll scored just 11 goals in 58 appearances for Liverpool.
