Mick McCarthy will now have to widen his search for a new goalscorer with the news that David Connolly has chosen Leicester ahead of Sunderland.
Both clubs had bids accepted by West Ham where Connolly scored 10 goals after joining them last season.
Speaking on SAFC.com Mick McCarthy said:
“We made David a good offer. I very much appreciate the efforts made by the board to bring him to the club – they backed me 100% on this.
“However, he has decided to join Leicester and we’ll move on now and set out sights elsewhere.”