Leicester City transfer news & rumours: Mathys Tel contact, £13m deal touted and budget woes

Leicester City are expected to be restricted in the deals they can do in the January transfer window.

We are now in day 16 of the 2025 winter transfer window and it’s been pretty slow going at the King Power Stadium.

But with several weeks still to go, activity on the incomings and outgoings front is to be expected.

With this in mind, Leicester City News have rounded up all the latest transfer news and rumours coming out of the club.

Leicester City recall Tom Cannon as January sale mooted
It was confirmed on Wednesday that Leicester have recalled Tom Cannon from his loan spell with Stoke City, whom he scored nine goals for.

Fans may wish to see the striker remain in the Midlands for the second half of 2024/25 but that’s looking unlikey.

Sunderland want to sign Cannon in a loan-to-buy deal that would see the Foxes earn £13m in the summer if the Black Cats win promotion from the Championship.

Elsewhere, the forward’s former club Everton, have been linked to the Leicester ace alongside Sheffield United.