Watford captain Troy Deeney has been the subject of a £15m+ bid from champions Leicester but the Hornets are said to have no intention of selling.
The Hornets are determined to keep their captain and have told the Foxes he is not for sale, according to reports.
Leicester are looking to increase their firepower and the club have held a long-standing interest in Deeney.
Deeney, who signed a five-year contract last summer, is understood to be happy at Vicarage Road with the club dismissing Leicester’s offer last week and Watford value the 27-year-old much higher than City’s offer.
The Foxes, who won a shock title by 10 points last season, also had offers rejected for Deeney two years ago as they prepared for the Premier League after promotion.
But Leicester boss Claudio Ranieri is not trying to replace Jamie Vardy with Deeney with the former Walsall striker targeted to compliment last season’s 24-goal top scorer.