Derby have been linked with a move for Lawrence as they seek to replace last season's top scorer Tom Ince, who was sold to Huddersfield Town earlier this summer.
Leicester City forward Tom Lawrence
The Welsh winger scored 11 goals and created as many while on loan to Ipswich Town last season, but is out of contract in less than 11 months' time.
Nevertheless, it would appear as though Leicester are keen to keep hold of him, with Riyad Mahrez widely expected to leave the King Power Stadium before the end of the month, while the future of another Foxes wideman, Demarai Gray, is also far from certain.
It remains to be seen whether Derby will return with an improved bid for Lawrence, although until the futures of Mahrez and Gray are resolved the 23-year-old will perhaps be staying put at Leicester.
Will Derby County get their hands on the Leicester City star this month?
Derby County manager Gary Rowett