Leicester have confirmed talks are "ongoing regarding potential investment in the club" but insist no deal has yet been completed.
It has been reported businessman Vichai Raksriaksorn, one of Thailand's richest men and estimated to be worth £113million, is in talks with owner Milan Mandaric about buying a majority stake.
But a club statement read: "Leicester City Football Club can confirm talks are ongoing regarding potential investment in the club but no deal has been completed at this time.
"We believe the potential investors would make excellent partners to take the club forward but reiterate a deal has not been completed and as ever we will only act in the interests of the club and our supporters.
"No further comment will be made at this time."