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The Foxes are ready to rip up Vardy’s current contract and hand him a whopping £90,000 a week package.

England recognition and the fact that he is the Premier League’s 14-goal top scorer means he has simply outgrown the £45,000 a week deal he signed just 15 months ago.

Vardy still has two-and-a-half years left, but Leicester are looking to stick an additional 12 months on top at double the money to tie him down until June 2019.

They’re hoping that will kill any interest from the likes of Chelsea and Tottenham for the brilliant 28-year-old.

Leicester’s mega-rich Srivaddhanaprabha family believe a bumper new deal for their record breaking England striker can fend off a potentially disruptive January sales rush.

The new deal looks certain to include a trigger clause of around £30m but will ensure the former non-League star sets himself up for life by committing his future to the ambitious Foxes.

Vardy’s goal exploits have forced the club to act more rapidly than they normally might have needed to.

But they know his value has rocketed along with his earning potential and that even the lucrative new deal still falls way less of what he could pick up at one of the Premier League’s big spenders.

And while Vardy, who turns 29 next month, has a relatively limited shelf life they accept he has to be rewarded for his astonishing goal scoring exploits.

Owner Vichai Srivaddhanaprabha is ready to sanction the deal which would make Vardy the highest earning player in the club’s history.

The Thai owners don’t need telling the value Vardy’s goals and growing reputation have had on the club’s profile both at home and abroad.

He’s played a massive part in Leicester’s astonishing start to the season which sees them currently second in the table.

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Last weekend he set a new Premier League scoring record against Manchester United by scoring in his 11th successive game.

If Vardy hits the net against Swansea tomorrow, he will equal the top flight all time record set by Sheffield United’s Jimmy Dunne over 80 years ago.

Not bad for a man who was picking up £100 a week just three years ago playing non-League for Fleetwood and who cost the Foxes just £1m.

Leicester boss Claudio Ranieri knows the big clubs are circling and will welcome the club’s moneymen taking decisive action.

Vardy’s age is the grey area. But the amount Leicester could recoup in a transfer fee might not reflect his true value to a club desperately trying to establish itself towards the top end of the Premier League.