Celtic have given Brendan Rodgers permission to speak to Leicester about their managerial vacancy, Press Association Sport understands.
It is also being reported that Neil Lennon will be hired as Rodgers’ replacement on an interim basis until the end of the season.
The Foxes are looking for a successor to Claude Puel, who was sacked on Sunday.
Rodgers, 46, has been in charge at Parkhead since 2016 and led Celtic to the title twice, while they are currently eight points clear of second-placed Rangers.
Puel was fired in the wake of Saturday’s 4-1 home defeat by Crystal Palace, with Leicester slipping to 12th in the table.
The Foxes face Brighton on Tuesday evening still looking to pick up their first win of 2019, a miserable run which also saw them knocked out of the FA Cup at League Two Newport.
As well as two league titles, Celtic have also won three Scottish League Cups and two Scottish Cups under Rodgers.
If appointed the Northern Irishman will become Leicester’s third permanent manager since they sacked title-winning boss Claudio Ranieri in February 2017.