Leicester City has rejected Arsenal's first bid for their 16-year-old winger Jeremy Monga. The young player is one of Arsenal's main targets for the summer, as revealed by Telegraph Sport. Monga, who will not sign a professional deal at Leicester until his next birthday on July 10, is being tracked by several clubs, but Arsenal is his first choice. His sale is one of many that Leicester, relegated to League One, will be forced to make as they rebuild their squad to remain compliant with English Football League cost controls. The likelihood is that the two clubs will reach agreement on a fee for the teenager, which reflects his talent and potential. Arsenal wanted to sign Monga, who was by then in the Leicester first team, in their unsuccessful fight against relegation from the Championship. The player is already on a deal that guarantees him a contract on his 17th birthday, the earliest point at which an academy player can sign pro terms, which protects Leicester's interest in the player. Although he is beyond development football in terms of junior teams, he may yet need a loan to get him ready to compete for an Arsenal first-team place. The plan is for him to do a full pre-season with Arsenal this summer and then for the club and Mikel Arteta to make a decision. Monga made his Premier League debut as a 15-year-old in the first of Leicester's two successive relegation seasons. He is the second-youngest player to appear in the Premier League after Arsenal's Ethan Nwaneri. Monga is predominantly right-footed and has played off the left but can operate in all of the attacking positions. There is a move within Arsenal to sign more leading academy and development players to improve the first-team pipeline and also create candidates who can generate lucrative sales. Although the likes of Bukayo Saka, Max Dowman, and Myles Lewis-Skelly have shown the academy can produce outstanding first-team-ready teenagers, there is a deficit of tradeable talent assets. Arsenal are looking for an academy director after the departure of Per Mertesacker at the end of the season. Leicester City's rebuild under the new circumstances will be crucial, and the sale of young talents like Monga will play a significant role in shaping the club's future. The club's ability to nurture young players and sell them at a profit will be essential in navigating the financial challenges of League One. As the summer transfer window progresses, Leicester City fans will be watching closely to see how the club manages its squad and finances, with the hope of returning to the Premier League in the near future.