The Foxes have enjoyed a remarkable season so far, and sit second in the Premier League table, just two points behind leaders Arsenal, as Claudio Ranieri has stunned the world by working wonders at the King Power Stadium.
Going forward, Leicester have been sensational, with Jamie Vardy and Riyad Mahrez causing no end of problems, but there have been problems at the back.
With 25 goals conceded, no team in the top half of the Premier League table has conceded more goals than Leicester this season, and Ranieri may look for defensive reinforcements during this month's transfer window.
The Daily Mail report that Leicester had been pressing ahead with a deal for Dynamo Kiev's Aleksandar Dragovic, but have had to pull out of that particular move.
Dragovic, 24, is a highly-rated Austrian international centre back, who has played for the likes of Austria Wien, FC Basel and now Dynamo Kiev, and even scored at both ends in a recent Champions League game against Chelsea.
The classy defender has long been considered as one of the most impressive centre backs in Europe, and Leicester had targeted an ambitious deal to bring him to the King Power Stadium.
Dynamo initially wanted £16m for Dragovic, and Ranieri had lined up a £12m-plus add-ons deal - but Dynamo have now changed their minds, and want £25m for Dragovic, prompting Leicester to end their interest in the player.
Even after this blow, it wouldn't be a surprise to see Ranieri target another centre back this month, with Dragovic seemingly out of the equation.