The Premier League outfit’s interest comes in light of uncertainties surrounding Jean-Philippe Mateta’s future, with a potential departure from Selhurst Park on the cards this summer.
Palace manager Roy Hodgson has placed Iheanacho top of his transfer wishlist as he looks to add firepower following the recent departure of Wilfried Zaha to Galatasaray.
Iheanacho is a crucial player for Leicester, and they expect him to play an important role in their bid to regain their Premier League status after relegation.
The 26-year-old has started all but one of their four games in the Championship and League Cup this season, netting once.
He has bagged 56 goals and 34 assists in 260 appearances for Leicester since joining them from Manchester City.
However, despite the Foxes’ reluctance to part ways with the Nigerian striker, the potential for a cut-price deal is gaining traction.
Iheanacho’s contract expires next summer, and Leicester will want to avoid losing him for free.
However, Leipzig’s advances, including a loan bid and a £7 million permanent transfer offer, have been rejected.
Mateta’s absence from Palace’s squad in their 1-0 defeat against Arsenal yesterday has fuelled speculation regarding his future.
Palace are also in the market for a goalkeeper following a reported falling out between manager Hodgson and long-standing number one, Vicente Guaita.
Hodgson has alleged the 36-year-old Guaita refused to play – a claim vehemently denied by sources close to the player.
This situation has prompted the club to explore alternative options, with Manchester United’s Dean Henderson and Leicester’s Daniel Iversen emerging as potential options.
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