The Algerian star has proved too expensive for the Foxes.
Sporting's Islam Slimani celebrates his goal against Braga.
Leicester City are looking to improve their squad ahead of a Champions League campaign next season.
However, it is now looking increasingly likely that one of those targets will not be Algerian striker Islam Slimani, according to reports in Portugal.
This morning it was reported by O Jogo that Leicester had pulled out of negotiations for the player. It comes as Sporting refuse to budge on his €30 million (£23.5 million) release exit clause. Leicester were hoping to pay less but Sporting are not willing to negotiate and therefore Leicester have decided to seek other opportunities.
Sporting's Islam Slimani celebrates his goal against Pazos Ferreira
This news comes in the same week that Slimani reportedly informed Sporting he would like the club to facilitate his exit, as reported by Portuguese source Record.
Leicester won the Premier League last season and are therefore looking for ways to imprive the squad ahead of a campaign which will see them play in the Champions League.
Slimani would have been a shrewd buy. He scored 32 goals in 43 appearances in 2015-16 and plays with an intensity that Claudio Ranieri would insist upon.
Hopefully this is not the end of the Foxes interest as Slimani could be perfect for them – but it seems that might be the case.