Arsenal have reportedly triggered the release clause in Leicester City striker Jamie Vardy's contract.
The 29-year-old enjoyed a remarkable campaign in 2015-16, scoring 24 league goals to help fire the Foxes to the most unlikely of title successes.
Vardy has previously outlined his intention to stay with the newly-crowned Premier League champions having only signed a new deal earlier this year, but that contract includes a £20m release clause for any club in the Champions League.
Arsenal have now met that release clause, according to The Guardian, although Leicester are still understood to be desperate to keep hold of the England international.
Vardy, who will be part of Roy Hodgson's squad at Euro 2016 this summer, set a new Premier League record by scoring in 11 consecutive games last season, breaking Ruud van Nistelrooy's previous mark.
The striker was voted the Premier League Player of the Year and FWA Footballer of the Year for his exploits during the campaign just finished.
