Leicester City reject Arsenal’s £5m bid for attacker Jeremy Monga | OneFootball

Arsenal have tabled a £5 million bid for Leicester City attacker Jeremy Monga and the Gunners also included a 10 per cent sell-on fee, according to The Times.

Arsenal manager Mikel Arteta wants the 16-year-old at the Emirates Stadium club next season as the North London club plan to successfully defend the Premier League title and go one better in the Champions League.

However, the Foxes have knocked back the bid from the Gunners and are insisting on £10m and a 15 per cent sell-on fee.

Leicester initially wanted £15m for Monga but are now willing to take off £5m from their valuation.

Manchester City and Chelsea are also admirers of the teenage sensation but Arsenal are the favourites to sign him.

A transfer tribunal may need to resolve the dispute if a transfer fee cannot be agreed between the two clubs.

The Gunners would prefer to negotiate a settlement instead of that as they do not want to waste time.

Further talks are expected and Monga will hope both clubs can reach an agreement soon as he is very keen on joining Arsenal.

He has already agreed personal terms with them and it is believed only a fee is holding things up.

Taking matters to a transfer tribunal could work in Arsenal’s favour taking Nathan Ferguson’s case into account.

A tribunal ordered Crystal Palace to pay West Bromwich Albion a compensation fee of £900,000 for the defender back in November 2021.

It was significantly lower than the £8m that the clubs had negotiated in January 2020, and Arsenal may end up paying significantly less than £5m for Monga if they are willing to take things to a tribunal.