Everton and Leicester have both lodged £40 million offers for Sigurdsson this summer, with the pair keen to bring the Swansea City man in.
However, it is Everton who are by far the more likely side to sign Sigurdsson.
The Icelandic international is said to have his heart set on a move to Everton, who can offer him significantly more wages than Leicester.
Sigurdsson could be set to earn £150,000-a-week at Everton, which is far more than Leicester are able to offer.
The Foxes were prepared to hand Sigurdsson a £100,000-a-week deal, but Everton have the financial strength to offer the attacking midfielder a far more attractive contract.
And Everton are expected to get a deal over the line for Sigurdsson in the near future.
The Toffees have already significantly strengthened their starting line-up for next season, but want Sigurdsson to further bolster Ronald Koeman’s attacking options.