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

Arsenal tabled a £5 million bid for Leicester City attacker Jeremy Monga, according to The Times.

However, the Foxes are insisting on £10m and a 15 percent sell-on fee. Leicester initially wanted £15m for Monga.

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, as they do not want to waste time.

Further talks are expected, and Monga will hope both clubs can reach an agreement as he is eager to join Arsenal.

He has already agreed personal terms, and the fee is the only element delaying the move.

Taking matters to a transfer tribunal could work in Arsenal’s favour when considering Nathan Ferguson’s case.

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

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