Leicester are expected to have to fend off interest in Riyad Mahrez and Jamie Vardy over the summer, as they have been in brilliant form throughout the campaign so far.
However, Collymore fears that even more of their key players could be subject to bids - as other sides will now see them as Premier League winners.
“A lot of Leicester’s players will come under hostile bids,” Collymore said.
“We are obviously talking about Jamie Vardy and Riyad Mahrez, but it’s also Okazaki, Simpson and Fuchs. There’s going to be loads of chairman that will go ‘they might look like Steady Eddies, but they’re Premier League winners’.”
Mahrez and Vardy have been Leicester’s real headline grabbers this season, but their stunning campaign has been a true team effort.
Christian Fuchs has been in absolutely brilliant form at left-back, while Danny Simpson has surpassed all expectations.
Shinji Okazaki has also impressed during his first season in England, with his work rate making him the perfect partner for Vardy up front.
Leicester’s squad’s great displays have put them five points clear of the top of the Premier League table.
The Foxes’ next match comes against Crystal Palace at Selhurst Park on Saturday.