Riyad Mahrez has handed in an official transfer request at Leicester amid an offer in excess of £50m for Manchester City, Sky Sports News understands.
The bid is believed to be City's second for the Algeria international in this window but is well below the Foxes' valuation of the player, who also handed in a transfer request in May 2017.
While no formal, written offer has been lodged, City representatives have made it clear what they are prepared to pay, and Leicester have responded by stating they do not want to sell Mahrez, and a bid of around £50m is far too low.
Nevertheless, Mahrez did not go to the Leicester City training ground on Friday and has not travelled with the rest of the squad to Merseyside ahead of their game against Everton.
Speaking earlier this month, Foxes boss Claude Puel was asked if Mahrez could cost potential suitors £100m. He said: "Perhaps; maybe in the summer he will cost even more than £100m. (But) it's just rumours, noise about him. We can see Riyad smile, enjoying his football, enjoying to play with his team-mates."
Mahrez wanted to leave last summer and submitted a transfer request amid interest from Roma, but the Foxes refused to sell the 26-year-old after rejecting three bids from the Italian club - including a £31.8m offer.
Speaking at the time, Mahrez said: "Out of the huge admiration and respect I hold for Leicester City, I wanted to be totally honest and transparent with them and have therefore informed the club that I feel now is the time for me to move on.
"I had a good discussion with the chairman last summer and we agreed at that time that I would stay for another year in order to help the club as best as I could following the transition of winning the title and in the Champions League.
"However, I am fiercely ambitious and feel that now is the time to move on to a new experience."
City have submitted their second bid for Mahrez after confirming Leroy Sane suffered ankle ligament damage during Sunday's FA Cup fourth-round win over Cardiff.
Sane has been ruled out for up to six weeks and is set to miss the Carabao Cup final against Arsenal as well as both legs of City's Champions League last-16 tie against Basel. http://www.skysports.com/football/news/11712/11229315/riyad-mahrez-hands-in-leicester-transfer-request-after-bid-from-manchester-city
Looks like it might be a matter of just adding a few millions and they’ll get it. Wouldn’t mind having a bit of that ambition here...