Someone said a few days ago something along the lines of although he has a release clause, Leicester only have to accept the highest bidder within the Premier League.
So if Shanghai bid Β£35m, Man Utd Β£21m and Chelsea Β£20.5m the only bids Leicester would accept would be the first two, even though they all exceed the release clause.
I could be COMPLETELY wrong on this, so don't quote, but I'm sure I'm along the right lines.