The Blues remain 6/1 favourites to win the race for his signature despite the Merseyside club offering a better prospect of regular first team football.
Chelsea lost out on signing Romelu Lukaku, 24, earlier this summer when Manchester United nipped in to take the Belgian to Old Trafford in a £75m deal. Despite the arrival of Alvaro Morata, also 24, from Real Madrid in a £52m transfer, Antonio Conte is desperate to strengthen his attack.
Michy Batshuyai, 23, signed last summer, has failed to impress so far and looks set for another season on the Chelsea bench. It’s left the defending Premier League champions short of strikers and Vardy could be tempted to leave the East Midlands.
It appeared he was set to join Arsenal last summer but backed out at the last minute over doubts whether his style suited the north London club. If the same questions appear in his mind this time around, it should send him to Goodison Park where Everton are more likely to play to his strengths.
Leicester are determined to get best value for their stars and are thought to be seeking a £40m fee for their leading scorer for the past three seasons.