The real reason why Leicester City never followed up Mihailo Ivanovic interest as stumbling block emerged

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After waiting all summer long, Leicester City finally managed to sign a striker.

It took 106 days to replace Jamie Vardy as Feyenoord striker Julian Carranza signed on loan with an option to buy in the summer.

Marti Cifuentes was desperate to bolster his attacking options and looked at a variety of options.

Millwall’s Mihailo Ivanovic was one of them and while they were interested, Leicester decided not to pursue a move for Ivanovic and EFL Analysis can exclusively reveal why.

• READ MORE: Josh Brownhill shuns Championship record deal from Leicester City

Leicester City couldn’t sell enough to fund Mihailo Ivanovic move

Altogether, 16 players left the King Power Stadium, including Bilal El Khannouss to Stuttgart on deadline day.

However, Leicester’s financial issues were well documented throughout the window, as well as the size of their squad.

EFL Analysis’ chief transfer expert Graeme Bailey told us that the inflated squad size, and failure to sell Patson Daka meant that the club couldn’t afford the 20-year-old Serbian.

Leicester rejected a bid for Daka which was nowhere near their asking price of £10m – the same amount Millwall were demanding for Ivanovic.

Will Leicester City try and sign Mihailo Ivanovic in January?

It’s hard to envisage the Foxes going back in for the Millwall man again this season.

Three deadline day arrivals, all on loan, sum up Leicester’s are financially and any move for the forward is likely to come next summer, or not at all.

Alex Neil will be delighted he kept his talisman but will more than likely face a bigger fight to keep him beyond the end of this season.