The Foxes are desperate to hang on to their key stars this summer.
The major saga surrounding Leicester City at the moment may be that of whether Jamie Vardy will choose to reject a move to Arsenal, but with speculation also intensifying about the future of Riyad Mahrez, the Telegraph reports that the champions have offered their star midfielder a new deal.
Mahrez sparkled during his first season in England after a move worth just £400,000 from Le Havre two-and-a-half years ago, scoring 17 goals and providing 11 assists.
That form saw the Algerian named the PFA Player of the Year by his fellow players, and has inevitably led to speculation that his future may lie away from the King Power Stadium.
The 25-year-old was less than reassuring when commenting on his future this week, and Arsenal are thought to be one of the leaders of the pack of clubs chasing his signature.
For Leicester, holding on to stars such as Mahrez is paramount, and a new report from the Telegraph claims that the Foxes are set to offer the midfielder a lucrative new deal which would raise his wages too £100,000 per week.
With Champions League football to look forward to next season, it is possible that such improved terms may convince Mahrez to remain in the East Midlands, at least for another year.
However, even if Mahrez decides he wants to leave, he has no release clause in his contract such as the one in Vardy's deal, something which will allow the Foxes to hold potential suitors to ransom.
Leicester are likely to dismiss any bid below the £30 million mark, and if Mahrez tries to force a move away it could begin a long-running saga over the next few months.