Kasper Schmeichel set to agree new contract with Leicester

Danish international goalkeeper Kasper Schmeichel will reportedly put pen to paper in the coming days on a new deal with Leicester City. BBC Sport announced on Monday that Schmeichel, who arrived at Leicester in 2011, was keen to sign a new deal and that he was excited about the upcoming season in the Premier League.

This contract extension will no doubt quell any more lingering rumours about a possible move by Arsenal for the 27 year old. The Gunners have been linked with Schmeichel for the last month since it was apparent that there Polish goalkeeper, Lukasz Fabianski, would not be signing a new deal at the club and that he would be let go this summer. Wenger and co obviously felt that Schmeichel, who was due to be out of contract this summer, would be an ideal back up to current No.1 keeper Wojciech Szczesny and would provide a bit of competition for the Polish international.

Leicester will be thrilled that Schmeichel has said that he wants to stay at the King Power stadium and no doubt this will provide a significant boost for the rest of the squad as they are about to embark upon their first season back in the top flight of English football since 2004.

Schmeichel has been a constant fixture in the side since his arrival in 2011 and played every single Championship game for the Foxes this season conceding 43 goals and keeping 18 clean sheets in the process. Including four consecutive shut outs in the last four games of the season.

The former Manchester City, Leeds United and Notts County keeper is believed to have agreed terms on a four year deal with the club that could earn him up to £40,000 a week. This seems somewhat unlikely though as Leicester have strived to implement a system where a salary cap of £30,000 a week in place. The deal, if true, would make the Danish keeper the highest paid player in the history of the football club.

The budgeting and salary cap may have to be thrown out the window though as the Thai owner of the club, Vichai Srivaddhanaprabha, has declared he wants to see the team finish in the top five within the next three years. Such lofty ambitions will certainly come at a cost and we will know doubt see Leicester players on wages of more than that salary cap over the next year or so.

Schmeichel has been named in the PFA Championship team of the year for the last two seasons and he will no doubt want to take this form into next season as the team will aim to keep the Foxes in the Premier League come next May.