​Leicester City will have to break their transfer record to sign their loanee Youri Tielemans from Monaco this summer, as the Ligue 1 side are believed to have quoted them a £40m asking price for the Belgian ace.

Since joining the Foxes in January, the 21-year-old has adapted to Premier League football with aplomb, and provided a stunning assist for Jamie Vardy's goal in Sunday's 2-1 defeat to Watford City. New manager Brendan Rodgers is likely to splash the cash in the summer, and could well be eyeing up Tielemans as his first major signing.

According to the Telegraph, Monaco are unwilling to let their starlet leave on a cut-price deal, and will force the ​Foxes to break their transfer record of £28m (paid for Islam Slimani in 2016) to get their man. The report adds that ​Leicester midfielder Adrien Silva is currently on loan with Les Monégasques, and could be used as a bargaining chip to lower Monaco's demands.

Rodger's has already confirmed his intentions to dip into the market in the summer, and said:  "There is no doubt we will look to improve, but there is no figure (of a budget), no number. Each year you have to improve, I’m sure we will spend. I’ve got an idea of what the needs are for the summer. 

"We know we need to improve, but there is a lot of potential in there. The key is just coming in and assessing where I’m at with the players.”

As things stand, the Foxes are sitting comfortably in 11th place in the ​Premier League table. While they appear to be well clear of relegation - ten points clear, in fact - they're also far off the Europa League qualification spots, and are likely to have to settle for a mid table finish this season, with an eye towards a more impressive campaign next season.