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Manchester City have reportedly failed in their attempts to sign Leicester City winger Riyad Mahrez before the close of the January transfer window.

Pep Guardiola's side have walked away from a deal "after refusing to sanction a transfer package that would have cost £95 million," according to BBC Sport's Simon Stone.

The Premier League leaders were keen to bring in another attacker to strengthen their squad, not just because Leroy Sane has been ruled out through injury, per The Guardian's Jamie Jackson:

The 26-year-old had handed in a transfer request in a bid to help push through a move, with City said to be willing to pay up to £60 million, per John Percy at The Telegraph.

Kaveh Solhekol at Sky Sports said Manchester City made a final offer of £65 million plus a player for Mahrez:

However, Mahrez will now stay at Leicester City for the rest of the season, with the Foxes able to keep hold of their star man despite the late interest from the Premier League leaders.

City's pursuit of the Leicester winger may have repercussions for the player, per Matt Law at The Telegraph:

Alex Shaw at ESPN FC said Mahrez may emerge as a target for Liverpool in the summer window:

Having made his desire to leave Leicester clear, Mahrez must now attempt to reintegrate himself at the club. His recent actions are said to have upset and angered his team-mates, per Rob Dorsett at Sky Sports.

Leicester will hope they can put the transfer saga behind them quickly, as Mahrez is one of their most important players. The winger has recaptured some of his best form recently and has three goals and four assists in his last seven outings.

Manchester City must now wait until the summer window before adding further to their squad. Their failure to land Mahrez may be good news for youngsters such as Phil Foden and Brahim Diaz, who may now see more action with Sane injured.

Bernardo Silva is another player who may come into contention after struggling to force his way into the first-team since his move from Monaco in the summer. The midfielder has made 22 Premier League appearances for City but just six of those have been as a starter.