Losing Jamie Vardy to Arsenal "could be catastrophic" for Premier League champions Leicester City, says former Foxes defender Gerry Taggart.
England striker Vardy, 29, is deciding whether to accept a reported £120,000-a-week offer from the Gunners.
"If Jamie goes then one or two others might want to leave as well," Taggart told BBC Radio 5 live.
"The whole Leicester ethos over the last couple of seasons has been built around people like Vardy."
The former Northern Ireland international added: "For the good of the whole team and the club it is important Vardy stays."
Vardy, in France for Euro 2016, only signed a new three-year deal, worth a reported £60,000-a-week, in February.
But the Gunners, who eventually finished second in the Premier League to the Foxes, triggered a release clause with a £20m bid on Friday.
Leicester are reported to have made an improved counter-offer in a bid to keep Vardy, whose 24 goals helped Claudio Ranieri's side become English champions.
Vardy was expected to make a decision on Monday before flying to France, but he arrived at England's base in Chantilly with no update on his future.
Arsenal hope a decision will come before the tournament starts on 10 June.
Vardy joined Leicester from Fleetwood for £1m in 2012.
He was named the Football Writers' Association Footballer of the Year for 2015-16 and has scored three times in eight games for England.