Ranieri says Mahrez is 'happy' and will stay at Leicester despite Arsenal link

The Algerian has received interest from Arsenal, with a €50million deal being discussed, following his starring role in leading the Foxes to the title last season.

However, after Leicester's friendly defeat of Celtic on Saturday, in which Mahrez scored a stunning goal, Ranieri said the 25-year-old will remain at the King Power stadium.

“It is good because you can continue to write, write, write,” he told the media at Celtic Park.

“It is good for you but not for us. Did you see Riyad, how he is happy? He played well and worked so hard for the team and scored a good goal. Then he stays with us. Of course.

“For us it is very important because he is one of our stars. He is our fantasy. We can work hard but with him something change.

Ranieri also said that Mahrez would be wise to stay under his tutelage as because he may not get into other starting XIs. “With another team there are many more stars and maybe he doesn't play at the same level," he added. "Maybe he go on the bench. It is much better he stay here with me and another year is important for him.

“Maybe now (£47m) and maybe tomorrow another newspaper says £100m. Keep going! Mahrez is okay with us. He understands that's someone loves to put some speculation but it is only speculation.”

Mahrez's goal also impressed his skipper Wes Morgan before Leicester won the International Champions Cup match on penalties. "That's what he's all about, he can score something out of nothing," said Morgan. "He did that today, it was a great goal and his performance was good today."