Riyad Mahrez has told Leicester City that he wants to leave the club.
The Algeria international helped the Foxes lift the Premier League title in 2015-16, but is now looking to leave the King Power Stadium.
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Goal reported earlier on Tuesday that Monaco had been priced out of a move for the 26-year-old, with Arsenal now appearing in pole position to land the winger.
And Mahrez, who is valued at €40m (£35m) by his club, has now released a statement confirming his intention to quit Leicester.
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He said: "Out of the huge admiration and respect I hold for Leicester City Football Club I wanted to be totally honest and transparent with them and have therefore informed the club that I feel now is the time for me to move on.
"I had a good discussion with the Chairman last summer and we agreed at that time that I would stay for another year in order to help the club as best as I could following the transition of winning the title and in the Champions League.
"However, I am fiercely ambitious and feel that now is the time to move on to a new experience.
"I've always enjoyed a good relationship with the Chairman and everyone at the club, and I hope I have been able to repay the faith shown to me by my performances and commitment on the pitch during my time here.
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"I've had the four best seasons of my career at Leicester and have loved every moment. I feel immense pride to have been a part of what we have achieved during my time at the club, culminating in becoming Premier League Champions.
"The relationship I share with the club and our amazing fans is something I will treasure forever and I truly hope they will understand and respect my decision."