Friday 24 June 2016 06:29, UK
Arsenal had hoped to wrap up the signing of Jamie Vardy before Euro 2016, but a transfer that looked inevitable is not to be: Leicester have kept their man.
More than two weeks after triggering Vardy's £20m release clause, Arsenal manager Arsene Wenger admitted he expected the striker to stay at the King Power Stadium and the Premier League champions finally confirmed on Thursday morning the news Foxes fans wanted to hear.
Vardy has signed a new four-year deal with Claudio Ranieri's side but what does his decision mean in the battle for Premier League supremacy? What does it say about Leicester's aspirations? And what does it mean for Arsenal?
It is not the first time a high-profile striker pursuit has ended in frustration for the north Londoners. The Gunners' issues up front date back to Robin van Persie's departure to Manchester United in 2012, with Luis Suarez and Gonzalo Higuain the most notable names to have slipped through their fingers.
But while Wenger could point to Liverpool and Real Madrid's financial demands as the decisive factors behind missing out on Suarez and Higuain, Vardy's case is different. This time, there was no ambiguity over a buy-out clause. Even Claudio Ranieri had admitted the decision would lie solely with his striker.
Outright rejection by a player who was playing non-league football just four years ago will certainly raise awkward questions of Arsenal. Do they still have the same draw? Are they viewed as credible challengers for major honours?
It is not inconceivable that Vardy might have favoured his chances at Leicester. The Foxes overcame 5,000-1 odds to achieve the unthinkable last season; Arsenal haven't won the title in over a decade.
And while Wenger's men are 6/1 to win it next year compared to Leicester at 33/1, they haven't mounted a lasting challenge since finishing four points off the top in 2007/08.
It would be understandable for Vardy to have pondered Arsenal's pitfalls as he considered his options, but there is little evidence to suggest the Gunners have indeed lost their draw.
Arsenal remain one of the richest and most prestigious clubs in the world, and the recent arrivals of Mesut Ozil, Alexis Sanchez and Petr Cech suggest the attraction is in fact stronger than ever.
Rejection is an undoubted blow for Wenger in his search for an elite goalscorer, but for Vardy the decision says more about Leicester than Arsenal. The 29-year-old has become a talisman and leader under Ranieri, he is cherished by fans, and Leicester's counter-attacking system is perfectly-tailored to his strengths.
With Champions League football on its way to the King Power Stadium, Vardy has never had it so good. A move to Arsenal might have been financially rewarding, but could he have recreated his 24-goal season at the Emirates Stadium?
Arsenal's possession-based set-up does not immediately lend itself to Vardy's counter-attacking strengths, and it is also just a few weeks since he talked up the incredible team spirit at the club that has secured his services for the long-term.
"We are all like brothers," he said after clinching the title in May. "We're constantly talking with each other, going out for meals. We are hoping that spirit will keep us together.
"There will be names thrown into the hat all summer but the group of lads we have, winning the league, and having Champions League football next season, you hope it keeps everyone together. We've just won the league and will be playing in the Champions League, so I am happy here."
Those comments suggested Vardy believed Leicester can maintain their new position among the elite. The extra revenue generated by Champions League qualification will help Ranieri strengthen his squad, and Vardy will also be aware that showing his loyalty to Leicester might encourage Riyad Mahrez and N'Golo Kante to do the same.
Vardy's decision also appears significant for the Premier League as a whole.
Leicester have upset the old order after decades of dominance from the Premier League elite. Television revenues are helping mid-ranking sides grow stronger, and Vardy staying at the King Power Stadium provides further evidence that the division is becoming more competitive than ever.
Manchester City and Manchester United are likely to be stronger under Pep Guardiola and Jose Mourinho while Chelsea are also fancied to recover under Antonio Conte, but Vardy's loyalty to Leicester will surely offer inspiration to the sides seeking to emulate their achievement.
The competition is open, and success needn't mean losing your most valuable assets.
Holding onto their talisman is the perfect way for the Premier League champions to set up the new season.
