Report: Leicester City to spend big in the summer

Leicester City

European football could mean a huge increase in the Foxes' spending power.

Leicester City could be one of football's biggest spendings in the summer transfer window as they are set to receive a huge cash injection into their transfer fund if they can secure European football for next season, according to a report in the Mirror.

The Foxes have been the surprise package of the Premier League season so far under Claudio Ranieri, and they lead the league table by two points with over two-thirds of the campaign gone.

Their remarkable form has put them in line to play European football for the first time since the 2000-01 season, and this would improve the club's finances dramatically.

The report claims that a top-three finish for Ranieri's side, which would guarantee them a place in the Champions League group stage, would see the club's income increase from approximately £70 million last season to over £100 million later this year.

It goes on to say that Foxes owner Vichai Srivaddhanaprabha is willing invest a large proportion of that money on signing new players and paying higher wages, with an increase in funds from the new Premier League TV deal already guaranteed.

The Thai owner recently sanctioned a lucrative new contract for top scorer Jamie Vardy, and other key players are expected to be offered significantly improved terms after this season.

City's most expensive signing last summer was Japanese international forward Shinji Okazaki who was brought in for a fee of approximately £7 million from German side Mainz.

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