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Published 16:54 8 Mar 2016 GMT
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Manchester United, Chelsea and Liverpool are thought to be interested in bringing in the former Fleetwood Town man who is one of the greatest examples of what constitutes a "a breakout star."
The Times claim to have obtained information regarding the clauses in Vardy's contract and have discovered that the striker has a buyout clause of £30 million (€38.6 million).
Vardy didn't insist on the clause being inserted into the new contract that he signed last month which brought his weekly wage up to £80,000 (€103,000), according to the report.
The minimum fee that clubs would have to pay to prise Vardy away from the Foxes is sizeable so it would take a wealthy, top club to splash out on the player who has been adamant that he is happy at the KP Stadium.
Speaking after signing his extension, Vardy said: "Leicester City have shown nothing but total faith in me since the day I arrived here three and a half years ago and it's impossible to measure how much that belief has helped me to improve. I'll forever be grateful for the investment the Club has made in me and I'll spend every day working to repay it."
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