LEICESTER City manager Brendan Rodgers is reluctant to lose key players but concedes that sales may have to be made due to their own difficulties in the transfer market with Newcastle United pushing the Foxes over a move for midfielder James Maddison.

The Magpies have lodged two bids for the 25-year-old midfielder who has two years to run on his existing deal at the King Power Stadium. With the season just days away, Newcastle have gone over a month without adding to the squad after signing Sven Botman, Nick Pope and Matt Targett.

The club are keeping a tight grip on their player due to the fact that the Foxes are in a position where they have to ‘balance the books’.

Due to the Foxes careful watch on the club’s purse strings, they are yet to make any signings over the summer and remain reluctant to lose key players. Captain Kasper Schmeichel has just completed a move to French side Nice.

Rodgers told BBC Radio Leicester: “I became aware towards the end of the season that the club would have to balance it’s books, then of course that becomes very difficult.

“The club will not look to spend money they don’t have and that is where the club is stable and they will always be very sensible.”

However, there is a scenario where if Leicester wanted to add to their squad in the transfer window, they would fund those moves through any potential sales. There is also an understanding from the manager that the squad is too big heading into the Premier League season which kicks off against Brentford on Sunday.

When asked if there was any funds available for any potential additions, Rodgers continued: “Not at this moment, no. It would have to be about trimming the squad or selling your assets. That’s something that the club are looking closely at.

“It’s where it’s at. The squad needs to get trimmed. Until that happens, I have to concentrate on the players that I have.”

Leicester’s stance on their own finances may well offer Newcastle hope that a deal can be brokered before the end of the month with Maddison becoming a primary target.

The England international scored 18 goals in 53 appearances for the Foxes last season and helped them to an eighth place finish in the Premier League along with reaching the semi-finals of the Europa Conference League.

Newcastle’s activity in the transfer market has stalled in the last month and there is a feeling at the club that due to their advanced spending power following the Saudi PIF takeover last October, they are being quoted inflated prices for potential targets.

In recent weeks, they have been forced to shelve their interest in Leeds United winger Jack Harrison along with Bayern Leverkusen forward Moussa Diaby after being outpriced beyond their internal budget structures. There has also been a failed move for striker Huge Ekitike who has gone on to join Paris St Germain.

Manager Eddie Howe said: “I think there is a slight frustration but not aimed at anyone from our side in terms of being frustrated that we haven’t done business.

“It’s just an understanding of the window and the mechanics that go into making transfers but there is a frustration because you want to build your team. You want to get that cohesive nature of the team working quickly but we hope we can do something.”