Cape Town - Watford have rejected a near £20 million offer from Leicester City for captain Troy Deeney.
The newly crowned Premier League champions are looking to improve their attacking options and provide support for star striker Jamie Vardy.
Vardy and fellow forward Riyad Mahrez hit 41 goals between them last season as the Foxes claimed a surprise Premier League title.
Leicester’s other forwards Shinji Okazaki and Leonardo Ulloa bagged just 11 goals between them.
Coach Claudio Ranieri is understood to view Deeney as ideal support for Vardy, but the Hornet’s skipped could also serve as a replacement should Vardy decide to join Arsenal.
Deeney joined Watford from League One side Walsall in 2010 in a deal that rose to £650,000 upon promotion to the Premier League.
He hit 13 goals in his debut top flight season, and has bagged 90 in 243 league games for the Hornets.
Walsall would stand to gain a substantial amount from a transfer as they reportedly have a 20 percent sell-on clause.