Midfielder Praet joined the Foxes from Sampdoria for £18million during the transfer window, and has already made four appearances in the Premier League and Carabao Cup.
But it turns out the Belgian could have switched to the Premier League a decade ago after heavy interest from the Gunners.
The north London outfit invited the then 15 year old to their training ground and offered him a money spinning offer.
But he instead he moved to homeland side Anderlecht instead of the Gunners, Lille or Ajax.
He said: “I had three or four really good options.
“We went to visit Arsenal, Lille, Ajax and Anderlecht.
“Arsenal would have been a really nice step and I could earn a lot more money there than in Anderlecht, but at that moment my education was not finished and that was really important for me – there was no insurance that I would become a good football player.
“It was a really close call because it was deadline day.
“I arrived at the training ground but there were some small issues with the contract and I think it was only one hour before the deadline that everything was figured out, so I signed just in time.
“But I arrived here with the thought that if I sign, I could go back to get my stuff I needed.
“But the gaffer really wanted me to stay for the first game, against Chelsea .
“I had no boots, so I did two training sessions and the first game with somebody else’s. I don’t even know whose they were.”