Leicester City have failed with a bid for Brighton striker Leonardo Ulloa.

The Daily Mail says the 27-year-old is valued at around £7m by Brighton but Leicester's offer is understood to have been well short of that mark at £3m.

Argentinean Ulloa joined the Seagulls in January 2013 from Spain's Almeria on a four-and-a-half year deal worth around £2m.

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