Heskey represented both clubs during a 22-year playing career.
But asked whether it is first club, Leicester, who are the primary focus of his attention on a matchday, the retired 41-year-old told Talksport's Hawksbee and Jacobs show earlier (Monday): "Both. Liverpool and Leicester.
"Leicester is home so I'll always look for them. And Liverpool is who I supported."
Heskey's most productive spells came arguably whilst playing alongside a usually smaller and pacey centre-forward.
And his partnership with Michael Owen, of whom he was a teammate for both Liverpool and England, is perhaps the most notable.
But when it was suggested that he and the Manchester City striker, Sergio Aguero, would make a fearsome pairing, Heskey replied: "Yeah. Yeah. And even, (the Leicester City striker, Jamie) Vardy.
"Playing over the back. I could flick it on or hold it up and lay him in. But it's difficult to say because teams don't really play two up front any more. Everyone's just one up front, fast wingers, or wingers that play inside."
Heskey, who also played for Birmingham City, Wigan Athletic, Aston Villa and Newcastle Jets, retired after a two-year spell at Bolton Wanderers in 2016.
The 62-cap ex-England international released an autobiography this week.
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