Leicester City are prepared to lower their £38 million asking price for Youri Tielemans.

The Belgian midfielder is not signing a new contract, and he is out of contract at the end of this season.

The 25-year-old has been linked to Arsenal all summer, but they have yet to make a formal offer.

Manchester United were also linked with his signature earlier this window, but nothing has materialized there either.

According to Het Nieuwsblad, Leicester will now ask for a fee as low as £20 million.

They believe that cashing in on Tielemans is better than holding onto him for an extra season and losing him on a free in the summer.