Leicester City transfer news: Budget frozen, Newcastle United enter El Khannouss race, QPR hijack, winger eyed | OneFootball

The latest Foxes transfer activity

Leicester City’s transfer activity remains a talking point as the summer window progresses, with the club facing a delicate balance between squad strengthening and strict financial constraints.

Recent high-profile departures have boosted the coffers, but indications made exclusively to Football League World suggest a cautious approach to reinvestment.

Meanwhile, interest in star midfielder Bilal El Khannouss is growing, with Premier League clubs circling.

Elsewhere, the Foxes appear set to miss out on one of League One’s standout strikers, while competition intensifies for a proven wide option in Dapo Afolayan.

The coming weeks could prove decisive as new manager Marti Cifuentes looks to reshape his squad for the season ahead without risking further scrutiny under profit and sustainability regulations.

This round-up brings together the latest developments on Leicester’s spending position, player targets, and transfer battles - including moves that could yet bolster the squad and those slipping beyond the club’s grasp.

Leicester City unlikely to spend money in the transfer window despite £30m windfall

Leicester City are expected to operate with extreme caution in the remainder of the transfer window despite generating approximately £30 million from recent sales, Football League World have exclusively revealed.

Goalkeeper Mads Hermansen’s move to West Ham United and midfielder Wilfred Ndidi’s switch to Besiktas have significantly boosted the Foxes’ funds.

However, FLW reports that profit and sustainability concerns will limit further spending, with no major transfer fees anticipated.

Instead, Leicester’s recruitment strategy will centre on securing loan signings and free agents to strengthen key areas.

Agents have offered potential replacements for both Hermansen and Ndidi, but the club has maintained that permanent deals involving fees are unlikely.

The Foxes are monitoring top-flight squads for players available on season-long loan arrangements, aiming to give manager Marti Cifuentes fresh options without compromising the club’s financial position.

Newcastle United have entered the race for Foxes midfielder Bilal El Khannouss, according to The Telegraph’s John Percy.

The Magpies face competition from Leeds United and Tottenham Hotspur for the Moroccan.

The 21-year-old has attracted significant interest following Leicester’s relegation, having delivered consistently strong performances during a difficult top flight campaign.

Whether Leicester will resist bids or seek to cash in remains to be seen, but the Morocco international’s future is now firmly under scrutiny as top-flight sides weigh formal offers.

Foxes set to lose out on Richard Kone after QPR hijack

Kone image credit - Benji Walker (@benjiwalkerphoto)

Leicester City look set to miss out on Wycombe Wanderers striker Richard Kone, with Queens Park Rangers reportedly agreeing a fee for the 22-year-old.

Kone was one of League One’s most prolific forwards last season, scoring 18 goals and winning the division’s Player of the Year award.

Swansea City and Preston North End, as well as the Foxes, had also pursued the Ivorian, with Preston seeing a £3 million bid rejected earlier in the summer.

Although Wycombe initially valued Kone at £5 million, reports suggest their asking price recently dropped to £3 million plus add-ons.

With less than a year left on his contract and a move to Loftus Road imminent, Leicester’s interest appears to have come too late to secure his signature.

Leicester set to battle West Brom, Blackburn Rovers, Swansea City for Bundesliga winger

Leicester are among four Championship clubs pursuing St Pauli winger Dapo Afolayan.

The 27-year-old, who enjoyed a successful spell at Bolton Wanderers before moving to Germany, made 32 Bundesliga appearances last season but registered only three goals and one assist.

West Bromwich Albion, Blackburn Rovers, and Swansea City are also monitoring the player, according to Hayters.

Leicester’s interest could intensify if winger Abdul Fatawu departs.