Jeff Schlupp is a product of Leicester City's academy

Crystal Palace have agreed a £12m fee with Leicester to sign Jeffrey Schlupp, according to Sky sources.

Sky sources reported earlier this week that the Foxes had rejected a bid of £9m from Palace for the winger.

Leicester boss Claudio Ranieri admitted on Thursday that the 24-year-old Ghana international had asked to leave and would be allowed to provided the right deal was made.

Jeff Schlupp played against Chelsea, whom the Foxes play this weekend, earlier this season

Ahead of Leicester's Premier League game with Chelsea on Saturday evening, Ranieri said: "I spoke with him, he spoke with the club. Of course, he is not happy.

"He is a fantastic man, a fantastic player, and I said if he wants to go, he can go.

"But also after this is the money. It has to be right for the club. If the right money arrives then he can go.

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"He has he told us he wants to go and that is normal. There are some clubs [interested]."

Schlupp is product of Leicester's academy after signing as a 13-year-old in 2005, and he made his Foxes debut in March 2011.