Leicester City won't hold Brendan Rodgers to his contract - if Arsenal meet their compensation price.

The Telegraph says Leicester will demand Arsenal pay £14 million in compensation if they want to appoint Rodgers as manager,.

The Foxes boss tops a shortlist of candidates drawn up by the Arsenal board to replace sacked Unai Emery.

Rodgers signed a three-year deal with Leicester back in February, worth £5 million a year, and has made it clear he is committed to the east midlands club.

Freddie Ljungberg tasked with handling first-team affairs in the interim until they land a permanent appointment.

Emery was relieved from his duties on Friday, having overseen the club's worst run of form since 1992.