Super Eagles forward, Kelechi Iheanacho, faces an uncertain future at the club after they agreed a £30million deal for Newcastle United's Ayoze Perez.
Sky Sports reports that the Foxes have a deal in place to buy the Spaniard, subject to a medical and personal terms being agreed.
Perez had been linked with a return to his homeland, after saying last season "to go back to your country and play for a big team and enjoy La Liga, would be something great for my career".
The forward enjoyed his most productive season at Newcastle since moving to Tyneside from Tenerife in 2014, scoring 12 Premier League goals last term to finish as the club's top scorer.
Iheanacho began the summer on a bad note, after he was dropped from Nigeria's squad to the 2019 Africa Cup of Nations.
His focus had turned to breaking into the Leicester team under new manager, Brendan Rodgers.
But the arrival of Perez, might now see him slip down the pecking order at the King Power Stadium.