Ranieri to get £5M if his team wins Premier League

Leicester City manager Claudio Ranieri will earn a £5 million ($7.33 million) bonus if his team win the Premier League title, the Times reported on Friday.

Italian Ranieri also has a separate clause in his contract that guarantees him £100,000 for every place that his team finish above 18th, which will see him earn £1.7 million if the Foxes come first.

When Ranieri took charge of Leicester in the close season, he was tasked with keeping the team in the Premier League. Leicester's owners wrote a number of clauses into his contract to make a parting of ways easier if he failed.

Ranieri asked for clauses of his own, granting him incentives if the club qualified for the Europa League, the Champions League or won the Premier League.

He currently earns about £1.5 million a year, according to the report, and is in discussions with the club over a new contract.

Leicester need three points from their last three games to win their first top-flight title and will be crowned champions if they beat Manchester United at Old Trafford on Sunday or if second-placed Tottenham Hotspur lose to Chelsea on Monday night.

When asked earlier in the season if Leicester's players would also be entitled to a bonus if the team won the title, Ranieri said: "I don't know if there is a clause (for players) and I don't tell you. They made a mistake if they didn't arrange it. I considered if I win the league."