Claudio Ranieri heading for £1.7m Leicester windfall if he can stay top of Premier League with a bonus for every position above 18th

Claudio Ranieri will land a bumper £1.7million bonus to his three-year contract if he can keep Leicester City at the top of the Barclays Premier League.

The canny Italian's deal is understood to net him an extra £100,000 a place from 17th and above in what was an incentive-based arrangement on Ranieri's arrival in the summer.

And earlier this month Ranieri even jokingly hinted that he has inserted a reward clause should the surprise leaders win the title amid suggestions the players did not have a European bonus in place.

Ranieri said: 'I don't know if there is a clause (players) and I don't tell you. They made a mistake if they didn't arrange it. I considered if I win the league.'

Leicester were widely tipped to be relegated following the sacking of Nigel Pearson and appointment of the Tinkerman in July.

Instead they have stunned the Premier League, playing a vibrant and exciting brand of football while winning matches to top the table.

Champions Chelsea were the latest to feel the Raneiri effect on Monday night as they slumped to a 2-1 defeat at the King Power Stadium.

Ranieri, whose last job was a disastrous one as head coach of the Greek national team, was not widely welcomed when he landed the Leicester job.

He agreed a three-year deal with the immediate remit of avoiding relegation. That bonus is surely in the bag now.

As for the players, they apparently have the usual clauses regarding relegation, cup runs and league position but the prospect of finishing in the Champions League places, or even the Europa League, has not figured in negotiations.