Leicester City have reportedly offered Riyad Mahrez a new contract.

According to The Telegraph, the Foxes are willing to increase Mahrez's wages to £100,000 per week in a bid to keep him from leaving the club.

The Algerian winger is wanted by Arsenal, Barcelona, Manchester United and PSG but Leicester are determined to keep the PFA Player of the Year at the King Power Stadium after he guided the East Midlands club to Premier League glory.

Leicester's Thai owners are eager to keep their title-winning squad together and will open the cheque book in order to retain the services of Mahrez, who along with Jamie Vardy and N'Golo Kante, continue to be linked with possible exits.