Atletico Madrid launch £17.2m bid for Leicester City target

Atletico Madrid have reportedly launched a £17.2 million bid for Leicester City target and Santos forward Gabriel Barbosa, according to Mundo Deportivo (in Spanish).

The Foxes are understood to have submitted a £23.2 million offer for the 19-year-old, who is nicknamed Gabigol and currently featuring Brazil at the 2016 Olympics in his home nation, but now they face competition from Atletico despite the La Liga giants offering £6 million less than the Premier League champions.

Claudio Ranieri is keen to sort out a deal before the Games end with the top-flight season kicking off this weekend and the transfer window closing at the end of the month.

Barbosa’s agent, Wagner Ribeiro, previously said: “When the Olympics finish I will sit down with Gabigol and his family and decide his future.”

Leicester have already boosted their attacking options this summer with the addition of Ahmed Musa from CSKA Moscow, while star striker Jamie Vardy rejected a move to Arsenal.