Watford have reportedly rejected a 'substantial' offer from Leicester City for club captain Troy Deeney.
Deeney registered 14 goals in his debut Premier League season to help the Hornets comfortably survive in the top flight, drawing interest from a number of fellow English sides.
Leicester are one of the clubs thought to be eyeing a move for the 27-year-old regardless of whether Jamie Vardy joins Arsenal this summer.
However, talkSPORT claims that the newly-crowned Premier League champions have seen a £20m bid for the striker turned down.
New Watford boss Walter Mazzarri is understood to be desperate to keep Deeney at Vicarage Road, with the skipper still having four years remaining on his contract.
Leicester made three previous bids for the player while Watford were still in the Championship, only to be knocked back by the Hornets on each occasion.
