Unfortunately this will be the only factor Leicester City consider when it comes to Jamie Vardy contract: View | OneFootball

Leicester City continue their Championship journey as they aim to return to the Premier League at the first time of asking.

The Foxes were relegated from the top-flight last term under the combination of Brendan Rodgers and Dean Smith, with Enzo Maresca now tasked with bouncing the club straight back to the big time.

One player who has remained a constant throughout the highs and lows is Jamie Vardy, who has been an incredible servant at the King Power Stadium.

The 37-year-old has produced many magical moments in the East Midlands over his stint, but as his contract runs down, there’s only one factor that could convince the club to offer him an extension.

Jamie Vardy’s glittering Leicester City career

The Sheffield-born forward was given an opportunity to impress in the Championship back in 2012 after he was signed by the Foxes from then non-league outfit Fleetwood Town.

Despite struggling in his first season in the second tier, Vardy hit a prolific run of form the following term under Nigel Pearson, which would see the side become Championship champions.

Vardy scored 16 league goals in that campaign, earning him a shot at top flight football.

Vardy would play a crucial role in retaining the Foxes' Premier League status, with key goals in a 5-3 win over Manchester United and a 3-2 victory away at West Bromwich Albion earning Leicester a 14th place finish.

The following season would be the most magnificent in Leicester's history and Vardy's career, as his 24 goals inspired City to lift the Premier League title and stun world football.

Vardy would go on to break personal records by scoring in 11 consecutive Premier League matches, toppling Ruud van Nistelrooy's tally.

The 36-year-old celebrated a four-year contract by netting 17 times for club and country during the 2016/17 season, including two in the UEFA Champions League knockout stages.

Vardy continued his goalscoring form with 18 strikes in the 2018/19 season before reaching a century of Leicester goals against Crystal Palace in July 2020.

The summer included more personal honours for the frontman, winning the club's Player and Players' Player of the Season prizes, before scooping the Premier League Golden Boot at the end of the 2019/20 campaign with 23 goals.

Another 17 strikes in all competitions followed in 2020/21 – a campaign which included Vardy adding the FA Cup to his honours list at the club. He would also go on to secure an FA Community Shield title in August 2021.

In 2021/22, he reached 150 goals for the club after netting at Brighton and has hurled himself into the top 10 for all-time appearance makers at Leicester.

A significant dip in form in front of goal last season for Vardy was a factor in Leicester’s subsequent relegation back down to the Championship, but the forward has helped contribute to the Foxes’ push back towards the big time, netting 13 times from 26 second tier outings.

Jamie Vardy’s contract situation and estimated wage at Leicester City

The Leicester icon signed a two-year contract extension at the King Power Stadium in August 2022, meaning his current deal with the club expires at the end of this term.

Despite dropping to the Championship, the former Fleetwood Town striker is staggeringly on an estimated £140,000 per week, according to Capology.

It's simply unsustainable for a current second tier side to spend such a significant amount of money weekly when they haven't got the financial security of being in the Premier League, and only one changing factor will keep Vardy at the club beyond this season.

Jamie Vardy must reduce his wages to stay at the club

In order to remain at the club, Vardy must reduce his wages significantly to convince Leicester to offer him a new short-term deal.

At 37, Vardy has been more of a squad player for the Foxes this season, failing to register a regular starting spot in the first team picture.

The forward has required a lot of rotating during the campaign and will most likely not have the ability to be a regular goalscorer in the Premier League again without a consistent run of gametime, provided they earn promotion.

Future recruitment in the forward area also has the potential to push Vardy further down the pecking order at the King Power, and that hardly justifies remaining on a triple-figure salary.

Regardless of whether promotion is achieved, Vardy’s salary will be a talking point at the club - and likely an even bigger one given their reported potential FFP issues.

Provided Leicester return among England’s elite clubs, the Foxes will need every bit of money required to build a squad good enough to survive relegation and an option to do this will be to reduce Vardy’s wages, so they have more wriggle room for spending.

If Leicester remain in the second tier, the financial situation around the club becomes slightly more strenuous, with a decrease in parachute payments and a likely exodus of first team regulars leaving the squad much thinner.

In order to maintain a competitive squad and remain towards the top of the division, Leicester would happily use the spare money from Vardy to put an early marker down in the summer transfer window.

Despite giving the club so much joy throughout the years, it’s crunch time for Vardy surrounding his Leicester future. The Foxes has been Vardy’s home for over a decade, and he must take a pay-cut if he wants to carry on his captivating journey.