Knockaert's contract at the King Power Stadium expires at the end of the month and it seems that he will not be offered a new deal.
The French winger played a crucial part in helping Leicester get back to the Premier League, but was not trusted to play a big role after the side were promoted.
Knockaert had to watch on from the sidelines, as the likes of Jamie Vardy, Marc Albrighton and Riyad Mahrez jumped ahead of him in the pecking order and it has been a frustrating time for the tricky winger.
It has also been rather surprising that Nigel Pearson seemingly didn't want to pick Knockaert, considering his quality.
The skilful wide man has the ability to be a match-winner, but clearly Pearson didn't feel he was ready for top-flight football.
The Foxes boss will say that his decision has been justified, as he has kept Leicester in the Premier League, and Knockaert will probably move on in the near future.
If he does join Standard Liege he will be keen to prove a point and he will be hoping that he can thrive in Belgium.