The French winger – who is being linked with a move by the Green Un - would bring some much needed width to an Ipswich team who are currently having to play 18-year-old Teddy Bishop out of position on the right wing, with Paul Anderson still making a comeback from injury.
Knockaert has only made 11 appearances for the Foxes this season – the last of which came in a 1-0 loss against Stoke in January – and the 23-year-old will be looking to get some game time in order to challenge for a place in Nigel Pearson’s team.
The winger played a prominent role in helping the Foxes gain promotion to the Premier League last season and would be an asset to Ipswich and their bid for a return to the top flight of English football.
Speaking at a press conference earlier this week Blues manager Mick McCarthy was complimentary of a player he believes has great quality, whilst revealing he has looked at other players.
“He’s a quality player and if I could get somebody of that quality then why wouldn’t I,” said McCarthy of the former French U20 and U21 international.
“But I’ve spoken to loads of people. I don’t know how these stories get out, somebody tells [someone].”
The Frenchman is currently in France with his Leicester team-mates who have been given a short-break with no games this week or at the weekend.