Leicester City will need to pay ‘around £8million’ for Wolves defender Conor Coady, according to a report.

City are said to be closing in on a deal for the defender, remaining confident of securing his signature despite having an initial bid rejected by the Premier League club on Tuesday. The 30-year-old is said to be keen on the move as he seeks regular playing time after slipping down the pecking order at Wolves.

coady spent last season on loan at Everton as they fought relegation, and the Toffees had an option to buy the defender for £4.5million this summer. They have opted not to trigger that clause, and Wolves have seemingly increased their valuation of the England centre-back.