Leicester are in talks with CSKA Moscow over striker Ahmed Musa, but expect to face competition from a number of clubs, according to Sky sources.
The 23-year-old has scored 10 goals in 29 games this season, and 11 in 56 international appearances for Nigeria.
Sky Sports News HQ understands manager Claudio Ranieri is keen to beef up his team's firepower as they prepare for the possibility of Champions League football next season.
But it is understood that Leicester, who sit three points clear at the top of the Premier League with 15 matches remaining, are not prepared to meet CSKA's £18m valuation.
Meanwhile, SSNHQ understand Leicester have ended their interest in Sampdoria forward Eder.
The fee of around £10m was not thought to be an issue between the clubs, but the player has revealed he wants to stay in Italy to further his Euro 2016 chances, favouring instead a move to Inter Milan.