Steve Howey expects Arsenal to baulk at Leicester City's asking price for James Maddison and switch their attentions to other targets.

The creative midfielder has been on the Gunners' radar all summer after seeing Martin Odegaard return to Real Madrid following a promising loan spell.

Maddison has three years remaining on his £110,000-per-week deal at Leicester, so the Foxes are in a strong negotiating position and would only entertain selling the 24-year-old for upwards of £60million.

The Gunners tested Leicester's resolve by submitting a players-plus-cash bid which would have seen Reiss Nelson and Ainsley Maitland-Niles head to the King Power Stadium, but the offer was turned down.

Arsenal's interest comes after Maddison scored 11 goals and registered 10 assists in 42 appearances last term.

Maddison, who has won one international cap for England, is also closing in on 100 Premier League appearances.

But former Leicester defender Howey believes Arsenal will not be willing to part with significant funds after already forking out £50million for Brighton & Hove Albion defender Ben White.

Speaking exclusively to The Transfer Tavern, Howey said: "I really cannot see Arsenal paying another £60million.

"Yes, he's quality but it's consistency they need. Consistency is what Arsenal have lacked over the last couple of years.

"I like Maddison and think he is a good player but I couldn't justify paying £60million."