Leicester City midfielder Demarai Gray has reportedly got a release clause of just £12m inserted in his contract at the King Power Stadium.

The England Under-21 international has been in and out of the Foxes side during their inconsistent season, but he has frequently been linked with a switch to one of England's biggest clubs.

Liverpool are said to hold an interest in the former Birmingham City winger and according to The Mirror, they could be encouraged by a modest release clause in the player's deal.

Gray cost Leicester just £3.5m in January 2016, but it appears that terms were put in the 20-year-old's contract that left him as an attractive option to other clubs.

He has scored twice in 46 appearances for Leicester, but he only made 14 starts in all competitions.