After being frozen out of the Manchester United squad, the England international joined the Red Devils’ league rivals West Ham on loan until the end of the season last month.
Lingard took little time to settle in at the London-based club and has made a bright start to his stint with David Moyes’ side, scoring three goals and providing an assist from four appearances.
The 28-year-old’s fine form at West Ham has sparked discussions about his future, with the London Stadium possibly becoming a permanent destination for him.
Now, Leicester have emerged as suitors of the attacker, who has a contract with Manchester United running until the end of the 2021/22 season.
The Foxes are said to be interested in acquiring the services of Lingard and are planning to monitor his situation for the rest of the campaign before potentially putting in a bid in the summer.
West Ham are also keen on making the player’s loan move from Old Trafford permanent and were even claimed to have discussed the possibility of doing so for £15m with the Red Devils.
While Leicester and West Ham look to buy Lingard, Manchester United could opt to keep him at the club and let him take Juan Mata’s place in the squad.