After beating Watford 1-0 on Saturday evening - thanks to a Mahrez goal - Leicester sit five points clear at the top of the Premier League table, and are moving ever closer to a stunning, historic Premier League title win.
Manager Claudio Ranieri will be preparing for the Champions League, and should have money to spend in the summer transfer window, but star winger Mahrez is bound to attract interest, and many believe that the Algerian will leave the King Power Stadium regardless of whether Leicester in the league or not.
Ranieri may be eyeing up potential replacements just in case Mahrez does leave, and ESPN claim that Mohamed Elyounoussi is one player being targeted by the Foxes.
Elyounoussi, 21, has hit 36 goals in 78 games for Molde following a 2014 move from Sarpsborg, where he played under former Leicester striker Brian Deane.
A three-cap Norway international, Elyounoussi has plenty of pace and can play out wide or up front, making him a possible replacement for Mahrez - but Leicester aren't the only team interested in signing Elyounoussi.
Elyounoussi was quoted by The Scottish Sun in January as saying that Celtic were interested in signing him, having scored twice against the Bhoys in this season's Europa League.
Manager Ronny Deila will be well aware of what his fellow Norwegian can do, and Elyounoussi may be one player that Deila thinks can provide an attacking spark in the final third after some frustrating attacking performances.
Unfortunately for Celtic, they simply may not have the funds to compete with Leicester, and whilst there may be more of a chance of playing first-team football in Scotland, the chance to join this exciting project at Leicester may be too good to turn down for Elyounoussi, if the Foxes do indeed bid this summer.
Should Elyounoussi join Celtic or Leicester?