Arsenal Transfer News: Latest Jamie Vardy and N'Golo Kante Rumours

Arsenal's links with Leicester City are alive and well in the transfer marker this summer, but a move for Jamie Vardy reportedly isn't done just yet, while N'Golo Kante is alleged to have opened talks with Chelsea.

According to the Telegraph's Jeremy Wilson, the Gunners have indeed triggered Vardy's £20 million release clause, but Leicester have offered their star man improved terms in a last-ditch attempt to convince him to stay.

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Vardy currently nets £60,000 a week at the King Power Stadium after penning an extension with the club in February that runs until 2019, but Arsenal have offered the Premier League winner £100,000 a week to join.

BBC Sport's David Ornstein reported on Sunday that the move is now completely in Vardy's hands, who faces the biggest decision of his career so far before jetting off to Euro 2016 with England on Monday:

There is, of course, the chance Arsenal will still be willing to make a move for the striker after he returns from the European Championship, but the sense is this may be a now-or-never scenario.

CNN reporter Ben Fairthorne added Three Lions manager Roy Hodgson wants the deal over with as soon as possible, presumably to take any club distractions away from the player heading into Euro 2016:

The Gunners have long been linked with a move for a star striker, and although Vardy, 29, may be older than Arsenal chief Arsene Wenger is accustomed to buying, his release clause means he could hold immense value.

What's more, Emirates Stadium incumbent Olivier Giroud has teased the thought of linking up alongside the Foxes forward in Arsenal colours, per Nigerian broadcaster Deji Kofi Faremi:

Leicester also face the prospect of losing Kante to a Premier League peer, but it's Chelsea who have entered talks with the midfielder, according to beIN Sports Serie A correspondent Tancredi Palmeri (h/t Daily Star's James Walters).

Ligue 1 champions Paris Saint-Germain are ready to throw a spanner in the works, though, after Bleacher Report's Andrew Gibney reported they're offering the France international a five-year contract:

According to Tom Doyle of the London Evening Standard, Arsenal could still be in with a shot of landing their man, however, as he won't make a decision on his future until after Euro 2016.

Arsenal may yet start the 2016-17 season with two of Leicester's foremost stars amid their ranks, but both deals hang on a knife's edge as things stand, with neither Vardy nor Kante in the bag just yet.