Premier League clubs are on red alert after it became apparent that Jamie Vardy has a £20million release clause in his contract.

According to the Daily Mail, Leicester City inserted the buyout fee into the deal Vardy signed in February which has bigger Premier League clubs showing significant interest.

Manchester City watched the 29-year-old on a number of occasions during his 24-goal season which helped the Foxes clinch the league title.

Manchester United, Chelsea and West Ham United have also been credited with an interest in the England international.

Vardy has stated that he expects to stay with Leicester this summer but the affordable buyout clause is likely to have rivals jockeying for position in the next transfer window.