Arsenal will reportedly miss out on Leicester City boss Brendan Rodgers as the club looks for Unai Emery's replacement.

The club had pinpointed Rodgers, whose Leicester side are second in the Premier League table, as a primary target for the vacant managerial role.

It is claimed that the former Liverpool manager has a clause in his contract which demands Arsenal to pay a £14m compensation fee to Leicester if they were to bring him to the Emirates.

According to The Mirror, the Gunners believe that the timing is wrong to secure Rodgers, who has recently stated his commitment to remaining at the King Power stadium.

It has been suggested that Arsenal's two main candidates for the role are Freddie Ljungberg and Mikel Arteta, with the North London club unable to hire more high-profile coaches due to budgetary restrictions.

Carlo Ancelotti, Massimiliano Allegri, Nuno Espirito Santo and even former Tottenham Hotspur manager Mauricio Pochettino have been linked with the job.