Report: Leicester to demand over £45M for Mahrez, confident he'll stay

Having picked up Riyad Mahrez for a reported bargain of €450,000, Leicester City is reportedly valuing the reigning PFA Player of the Year at a significantly higher figure.

According to John Percy of The Telegraph, Leicester is prepared to ask for more than £45 million for Mahrez but is confident that the Algerian attacking midfielder will stay at King Power Stadium. The Foxes apparently believe that the 25-year-old's value should be determined by Manchester City's £49-million signing of Raheem Sterling.

It was reported on Friday that Mahrez, who allegedly doesn't have a release clause in his contract, is set to reject Leicester's offer of a new contract that would see him earn in the region of £80,000 per week. However, Percy says that the new deal would see him collect up to £100,000 per week and that there's no indication the player won't sign it.

Mahrez tallied a phenomenal 17 goals and 11 assists while appearing in all but one of Leicester's Premier League fixtures last season, and subsequently won the PFA Player of the Year award, becoming the first African footballer to claim the honour.

Three years currently remain on Mahrez's contract.