QPR reject $18 million Leicester City bid for Charlie Austin

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Charlie Austin is a hot commodity on the transfer market, but his services are going to come at a cost.

After tallying 18 goals in his first Premier League campaign last season with Queens Park Rangers and heading into the final year of his contract, the R’s are looking to cash in on their top scorer.

[ RELATED: Nigel Pearson sacked by Leicester ]

Reports state QPR is holding out for an offer of more than $20 million for Austin, as the club will lose millions in revenue after being relegated from the Premier League.

The $18 million bid from Leicester would have been a record signing for the club had QPR accepted.

Austin finished fourth in scoring in the Premier League last season, behind only Sergio Aguero, Harry Kane and Diego Costa. His play was impressive enough to earn the 25-year-old his first call-up to the England national team from manager Roy Hodgson, although he did not see any playing time for the Three Lions.

[ RELATED: Slaven Bilic accused of disrespect following West Ham’s Europa League qualifier ]

As soon as QPR was relegated, Austin became linked with multiple Premier League clubs including Newcastle, Liverpool, West Ham and Southampton.

Leicester City recently signed Japanese striker Shinji Okazaki, but it looks like the Foxes are keen to add more to their attack following the sacking of Nigel Pearson.