The England striker is due to make a decision on his future today as to whether he will leave the Premier League champions for the Gunners after they reportedly triggered his release clause in the East Midlands.
While Arsene Wenger will no doubt benefit from bringing in one of the most prolific forwards in the country, the Cod Army could also receive a major boost.
The £1m fee they were handed by the Foxes back in 2012 could see a significant increase should the 29-year old make the move to North London.
Such a fee would have the potential to transform the club’s fortunes from League 1 strugglers to promotion contenders and continuing their phenomenal rise through the divisions to as high as the Championship.
In many ways, it could kickstart a revolution somewhat akin to that of the Foxes’ themselves.
Manager Steven Pressley is looking to build upon a side that survived relegation on the last day of the season in May and begin to become more competitive in League 1 over the next few years.
Fleetwood fans…what do you think? Would you like to see Vardy go to Arsenal? Would this deal transform the long term prospects of your football club? Let us know your thoughts and opinions in the comments below!