The current Italy boss is expected to leave his position as national manager after Euro 2016 in France.
Indeed, it seems he is on his way to the Premier League with reports linking him to the manager’s position at Chelsea.
And his potential arrival in England could see his fellow countryman leave to take up the post he is vacating.
That is according to Gazzetta dello Sport who claim that Ranieri is high on their list of replacements alongside Roberto Donadoni and Giampiero Ventura.
The news will surely come as a blow to Foxes chiefs, who are working hard to keep their star players, never mind their current manager.
Jamie Vardy was linked with an exit before agreeing a new deal, while the likes of N’Golo Kante and Riyad Mahrez are also rumoured targets for several clubs.
Keeping them will be a struggle enough and trying to convince Ranieri to turn down the overtures of his country is another battle they are not likely to relish.