Leicester City have reportedly dropped their asking price for Riyad Mahrez to £40million, with north London rivals Arsenal and Tottenhammonitoring the situation.
Mahrez looks set to leave the King Power Stadium after winning both the Championship and the Premier League in his three-year stay at the club.
The 26-year-old was named the PFA Player of the Year in 2016 after helping Leicester win the title and subsequently signed a new four-year contract.
But Mahrez does not intend to see out his deal and revealed earlier in the year that he had decided to leave this summer after a frustrating season.
A number of clubs have expressed interest in securing his signature, with Arsenal, Tottenham and Roma making enquiries to Leicester in recent weeks.
Serie A outfit Roma had a bid for Mahrez rejected earlier in the month and Gianluca Di Marzio say they are no closer to agreeing a fee with City.
It is claimed the bid Leicester received was worth £30million, which is £10m short of what the Foxes hope to recoup in a summer sale.
The Premier League club were said to value the Armenian playmaker at £50m, but knowing Mahrez is pushing for a departure they will now listen to offers of around £40m.
Speaking about the interest in Mahrez last week, Leicester boss Craig Shakespeare said: ‘I think I was quoted as saying on the last press day that there’d been no bids.
‘There was a bid from Roma I was told after so I’d just like to put the record straight on that one.
‘It was politely declined on the basis that it was a low offer. Don’t ask me how much because I don’t know and I don’t get involved in that.’
Arsenal have been strongly linked with a move for Mahrez with Arsene Wenger an admirer of the former Le Havre star.
Spurs are also believed to be plotting a deal and Mauricio Pochettino insists he is ‘calm’ over the transfer window despite being the only Premier League club yet to make a summer signing.
‘For us we are so calm and so quiet because we have belief in our squad and our young players pushing from our academy,’ he told ESPN.
‘We will add maybe a few players but we are so calm because I think we have a very good team and the most important thing for us always is the team.’