Source MailOnline-Leicester City have rejected a £12million bid from Saudi Arabian club Al Nassr for striker Ahmed Musa but could allow Islam Slimani out on loan.
Musa joined from CSKA Moscow in 2016 for £16.6m and it is thought Leicester would want to recoup their money.
Meanwhile, Sporting Lisbon have made a loan enquiry for Slimani.
The £28million signing, who spent time on loan at Newcastle last season, has been offered back to Newcastle during this window and could be sold for a discounted £18m.
The pair were bought in the summer after Leicester won the Premier League title in 2016 but have struggled for form in England.
Slimani has managed 12 goals in 47 appearances for the Foxes, while Musa has just five in 33 games.