LEICESTER goalkeeper Kasper Schmeichel is ready to snub Arsenal by signing a new four-year deal at the King Power.
It was reported that the Dane would be on £40,000 per week - making him the highest paid Leicester player in history - but this is unlikely due to the club's £30,000 cap on wages.
The Gunners were eager to take advantage of the 27-year-old's contract situation in the summer as they look to add competition for Wojciech Szczesny, with Southampton also linked with a move.
Kasper Schmeichel poised to sign new four-year deal at Leicester City
Boss Nigel Pearson, who's contract is also set to expire, has been in talks with Charlton stopper Ben Hamer, but he is likely to arrive as cover for Schmeichel.
Leicester have also offered new deals to centre-back Marcin Wasilewski, winger Lloyd Dyer and strikers David Nugent, Tom Hopper and Gary Taylor-Fletcher.
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