Speculation has been growing in recent weeks that Leicester City have earmarked Troy Deeney as one of their primary transfer targets, but it appears as though they have been knocked back in their first concrete approach for the forward, according to a report from talkSPORT.
Deeney was hugely impressive for the promoted side in his first ever Premier League season this term, racking up 13 goals and seven assists alongside fellow star forward Odion Ighalo.
That form has led to speculation that he could be set for an exit from Vicarage Road, with Leicester widely thought to be the frontrunners for his signature this summer.
The newly-crowned champions are thought to be looking to bring in another proven striker to share the load of top scorer Jamie Vardy, who is reportedly likely to turn down an approach from Arsenal.
Deeney would fit that bill, adding strength and power to Vardy's pace and instinctive style, but talkSPORT have claimed that the Foxes first bid, thought to be worth around £20 million, was not even seriously considered by the Hornets.
New Watford manager Walter Mazzarri will likely be desperate to hold onto the man who has become something of a talisman for the club as he assesses his new side's squad this summer, and with Deeney having four years left on his current deal, the Hornets hold all the cards.
However, the joker in the pack could be Deeney himself; the striker turns 28 this month and may feel that a move to the King Power Stadium would be his only chance to play Champions League football during his career.
Deeney has shown unwavering loyalty to Watford in his six years at the London club and has become arguably their defining player, racking up 96 goals in 263 appearances.