The 26-year-old winger is one of the most highly sought-after properties in Europe this summer, and Leicester have slapped a £50 million price-tag on him, in a bid to warn off any potential suitors, according to the Telegraph.
The Algeria international has made it clear that he wants out of the King Power Stadium though, so it would be no surprise to see him leave the east Midlands outfit before the transfer window slams shut.
The Reds' need for the Leicester man will surely hinge on whether they manage to keep hold of Philippe Coutinho this summer. If they do go on to sell the Brazilian though, Mahrez would be the ideal replacement, and in today's currently inflated transfer market, £50 million does not seem too unreasonable.
The 26-year-old is also exactly the kind of player that Spurs need, but Tottenham fans will certainly not be banking on Daniel Levy spending the kind of money needed to prise Mahrez away from the Foxes.