£30m Newcastle United transfer and Arsenal target released along with five others

Leicester has confirmed its retained list following relegation from the Premier League. Perez, who spent the second half of the 2022-23 campaign on loan at Real Betis, is one of seven players released by The Foxes.

Youri Tielemans, a player previously targeted by Newcastle and Arsenal, will also become a free agent this summer. Neither club are likely to make a move for the 26-year-old after securing Champions League football for next season.

Caglar Soyuncu, Daniel Amartey, Nampalys Mendy, Ryan Bertrand, and Tetê will also leave the King Power following the expiration of their contracts this month.

Perez made 114 appearances for Leicester after leaving Newcastle in 2019. He scored a hat-trick in the record 9-0 win at Southampton in what were his first goals for the club but he only managed a further nine in the Premier League afterwards.

The 29-year-old also helped Leicester win the FA Cup in 2021 where he helped win the ball back in the build-up to Tielemans’ winning strike against Chelsea at Wembley Stadium.

The Spaniard was a key player for Newcastle with 48 goals in 195 appearances in all competitions after arriving at the club as a 20-year-old in 2014. Perez helped The Magpies win the Championship in 2016-17 and also ranks in the top 10 of the club’s Premier League scorers with 33 goals in 143 outings.

Now 29, Perez will be looking to find a new club as a free agent.