Josip Ilicic could receive a new deal at Fiorentina, report Tuttomercatoweb, but the Italian club are mindful that the attacker's future could still lie abroad.
Ilicic has scored 13 goals in 26 Serie A games this season, and is capable of playing up front, behind the striker, or wide in a 4-3-3 formation.
Tuttomercatoweb report that Fiorentina want to extend Ilicic's contract from 2018 to 2020, but Leicester's hopes of signing him will not be lost.
It is claimed they want to include a release clause of 20 million Euros [£15.8 million], to try and sign the Slovenian international.
The report states Ilicic will weigh up his options at the end of the season, but he should not be worried that the release clause will scare off teams.
It is a more than reasonable figure for a 28-year-old international forward who is proven in a top European league, and the Europa League. Goals win games and Ilicic is a matchwinner, and if Leicester City are set on signing him, they should not be deterred by the latest development.