The Belgian plied his trade at Torino on loan from Leicester last season and was a key player for the Italians.
Il Toro coach Ivan Juric is keen on having Praet back in his ranks next season and has put him at the top of his transfer wish list.
The Croatian sees Praet playing a key part in his project at Torino and Leicester are prepared to let him go for the right price.
Leicester have slapped a €13m price tag on Praet’s head with Torino working hard to take him back to Italy.
However, according to Italian daily La Stampa, the Turin outfit have made it clear to Leicester that they can only fork out around €9m to €10m for Praet’s signature as things stand.
Although Torino is yet to agree to Leicester’s asking price for the midfielder, they could still match the valuation.
Praet still has two more years left on his current deal at the King Power Stadium and it remains to be seen whether he will return to Torino this summer.
