Leicester City could be prompted to make a move for Watford's Troy Deeney if they lose Jamie Vardy.

The Daily Mirror is reporting that the Foxes will make Deeney a serious target provided their star striker Vardy leaves the King Power Stadium for Arsenal.

Reports over the weekend suggested that the Gunners had activated Vardy's £20million release clause while the player was set to have a medical on Sunday.

It is believed that Leicester will make a last ditch effort to keep Vardy by making a counter offer but there is a contingency plan in place if he rejects that proposal.

Watford captain Deeney has emerged as a genuine Foxes target and the reigning Premier League champions will reportedly offer £10m to lure the 27-year-old away from Vicarage Road.