Demarai Gray is close to signing a new £50,000 a week contract after Leicester rejected a £25m bid from Bournemouth.

Gray, the England Under-21 winger, is in advanced talks and expected to commit his future to the club before the end of the month.

Bournemouth made at least two offers for Gray in the transfer window, including a significant bid on deadline day which was turned down.

Crystal Palace also made an attempt to sign Gray, who has frequently admitted his frustration over a lack of first-team opportunities under Claudio Ranieri and then Craig Shakespeare.

But Leicester are ready to reward the 21-year-old with a deal which will double his money as a gesture of their faith in him.