Scottish giants Rangers and Celtic were at Leicester's game against Portsmouth at the weekend, with on-loan Town striker Marcus Bent their target.
Foxes' boss Micky Adams is keen to keep Bent at the Walkers Stadium but concedes that the competition for his signature may be too strong for his relegated club: "Rangers and Celtic were both represented at our game against Portsmouth on Saturday and, well, we can't compete with them."
Bent's loan with the Foxes is up at the end of June and he looks to have little future with Town, particularly if the Blues remain in Division One.
The 25-year-old's wages would be an unwanted addition to the club's outgoings and they would seek to secure his exit as soon as possible. He has another year remaining on his Town contract and is amongst the club's highest-paid players.
Bent, who cost £3 million in November 2001, is likely to leave on a free transfer, although if there are a number of parties interested in taking him the Blues may secure a small fee.