anchester City have insisted on a £50 million buy-back option for Kelechi Iheanacho, as the striker closes in on his protracted move to Leicester.
Iheanacho had a medical at Leicester’s training ground on Tuesday and is set to finally join Leicester for £25m in the next 48 hours after the deal was held up due to a row over image rights with his former agents.
As revealed by Telegraph Sport last month, Leicester agreed a fee and terms nearly four weeks ago for the Nigeria international and have had to be patient while the impasse with his agents was resolved.
But with the striker now poised to officially become a Leicester player, it has emerged that Manchester City have struck an agreement which will see them given the first option to re-sign the 20-year-old if he proves a success at the King Power Stadium.
Iheanacho remains highly thought of at the Etihad Stadium, after progressing through the club’s academy, and City have inserted a clause to buy him back for £50m. Leicester were happy to agree to the clause, as they will double their money in the event of the forward proving a massive hit in the East Midlands.
It is understood that Leicester have secured Iheanacho’s signature ahead of Tottenham Hotspur, West Ham United and Monaco, and the deal represents a huge coup for new manager Craig Shakespeare. Iheanacho, 20, could make his Leicester debut in Friday’s friendly against Borussia Monchengladbach at the King Power Stadium.
Shakespeare said earlier this week: “I’m hoping he will be available for the game at Arsenal, but I am like every other manager at the moment. I think we all find it frustrating but it is the current market.
“You saw with the Harry Maguire one, we got that done quick. When he is in the door, we can announce it.
“At the moment, of course, we are interested in players as most of the Premier League is, but you can see that clubs won’t really talk about it until they are over the line.”