The Italian international is currently a free agent.
The report claims that Leicester have in fact agreed terms with the player and that once they have moved one of their registered players on, either on loan or on a free transfer, they will register Schelotto.
Of course this is not the first time that Schelotto has been linked with a move to the East Midlands.
In the end, they did not agree to send him out on loan anywhere and therefore released him on a free transfer, which means he is available
Leicester have had a barn-storming start to the Premier League season so it seems odd for them to be considering a move for a new player with the team seemingly settled and performing well.
So it will be interesting to see if there is real interest in Schelotto from this pocket of the country or not.