Leicester are trying to sign Argentina midfielder Esteban Cambiasso ahead of their Barclays Premier League return against Everton.
The Foxes are in negotiations with the 33-year-old former Real Madrid and Inter Milan player, who is a free agent after leaving the Italian giants at the end of last season.
Manager Nigel Pearson had been hoping to keep any deal secret until an agreement could be reached but news of the potential signing was leaked last week to a national newspaper, much to Pearson's annoyance.
But he insists a deal - which would be a major coup for the club - is still possible.
"I don't know about Cambiasso," said Pearson. "I don't take too much notice of the air waves. I've not denied our interest. It's something we will continue to work at.
"Whether deals can be done or not it will be based on a number of criteria. We'll work really hard to do the deals. I can't account for other circumstances intervening.
"We have an interest yeah. But my view on talking on other people's players [is] I don't. I don't have a track record of talking about speculation."
Leicester, back in the Premier League after a decade-long absence, begin their campaign against Everton at the King Power Stadium on Saturday.
The Foxes enjoyed a hugely successful campaign last season, in which they secured promotion with six matches to spare before clinching the Championship title with an away win at Bolton on April 22.
It was the club's first ever Football League title, achieved with 31 victories and 102 points - both club records.
The Premier League is a very different animal but Pearson believes his squad is capable of thriving in the top flight.
"I think it's dangerous to set your targets too low," he said. "It's very difficult to have a definitive answer to what might constitute a successful season.
"From a business point of view - and purely on a business level - survival would be an achievement. But, of course, I can't preach that as that would be under-selling what we have the potential to do.
"I feel we have a good squad with a good mix of experience and young players who, if they are brought through and nurtured in the right way and given time, will see us do very well in the Premier League.
"Our biggest strength is our team and group ethic. Alone, that's not enough, but we have a lot of quality in our side too.
"But the Premier League and the Championship are very different. L ast season was a great success, but it's in the past. We're all very proud of what we achieved but it's about moving on and being a success in the Premier League now.
Jamie Vardy (thigh) and summer signing Marc Albrighton (groin) are likely to miss the visit of Everton but French winger Anthony Knockaert, who has been nursing an ankle problem, is expected to be fit.
Pearson said: "Marc may not make the weekend but Anthony has trained fully. Jamie Vardy is unlikely to be available. It is frustrating when you pick up one or two knocks up in pre-season, we've been a bit unfortunate.
"If one player misses someone else has got an opportunity. But however we shape up at the weekend we will be very capable."