The Belgian might be deemed surplus to requirements with the Foxes after manager Claudio Ranieri loaned him to Middlesbrough in Feburary, with the 27-year-old helping Aitor Karanka's side win automatic promotion to the Premier League.
The former Manchester United man managed 12 top-flight games for City prior to his loan, meaning he was entitled to a Premier League winners medal with Leicester.
He did not play as often as he would have liked at Boro, but Karanka is 4/1 to sign him permanently - second favourites behind Derby County.
Nigel Pearson, who signed him for Leicester, is now in charge of County.
Of course, De Laet also helped Leicester to promotion in the 2013-14 campaign, and Aston Villa and Derby would do well to sign a player with that know-how.
Aston Villa fans have something a love-hate relationship with current right-back Alan Hutton and many Villans would not be adverse to the idea of seeing him displaced.