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Leicester City will have to break their transfer record to sign loan midfielder Youri Tielemans on a permanent deal this summer.

The Foxes have been quoted a mouth-watering £40 million by the midfielder's parent club AS Monaco, according to the Mail Online.

The figure was reportedly quoted when City were in talks with Monaco in January over a loan move with a view to making the deal permanent.

But upon the staggering quote given by the Ligue 1 club, the Foxes decided to settle for a loan until the end of the season with Adrien Silva joining Monaco on the same arrangement.

Tielemans has impressed for Leicester City so far, making four appearances and assisting two goals in his last two games.

The Blue Army chanted "sign him up" from the away end at Vicarage Road when Tielemans was brought off in Sunday's 2-1 defeat to Watford.

But it will cost City big bucks to do so with Monaco looking to make a sizeable profit on the fee of just over £20 million they paid Anderlecht for Tielemans.

The quoted £40 million could also rise if Tielemans continues to show he has what it takes to be a Premier League player, and also if other clubs enter a bidding process.

Tottenham Hotspur reportedly held strong interest during January before conceding defeat to Leicester.

Though, City do have a makeweight in the form of Adrien Silva who has impressed since joining Monaco on loan, making 10 appearances and helping his loan club battle the drop in Ligue 1.

Silva joined City from Sporting CP for £22 million last year and he's still understood to be worth around £13 million - that could rise if he impresses in Ligue 1.

Leicester City's transfer record currently stands at the reported fee of £28 million, which is what they paid Sporting CP for striker Islam Slimani.

But to ensure Youri Tielemans stays in the East Midlands long term, the club would have to allow Brendan Rodgers to break that record with the young Belgium international still being one of Europe's most coveted talents.