Leicester are attempting to tie down skipper Jonny Evans despite releasing seven stars following their relegation from the Premier League.
The Foxes officially let go out of contract stars Youri Tielemans, Daniel Amartey, Ayoze Perez, Caglar Soyuncu, Papy Mendy, Ryan Bertrand and loanee Tete.
The 2015/16 champions are preparing for a major rebuild after dropping into the second tier on the final day of the Premier League.
They need to cut costs with a wage bill at £182million after losing £92.5m in the last financial year.
But the Midlands outfit still hope to keep out of contract skipper Jonny Evans,35, who joined in 2018. City have also exercised an option to extend the contract of Hamza Choudhury for a year until 2024.
The club are yet to decide whether to keep interim boss Dean Smith after relegation or go for a new man with contenders including Steven Gerrard and Graham Potter.
Aston Villa meanwhile are interested in Tielemans as they step up plans for a major recruitment drive after qualifying for Europe.
Unai Emery’s side clinched a Europa Conference League play-off round spot on the final day when they finished seventh in the Premier League.
Now boss Emery wants to have two top quality players for every position in his squad and is considering Tielemans ahead of their first appearance in Europe since 2010.
Emery also admires Villarreal's Pau Torres,26, at his old club , where the stopper is entering the final year of his deal at the La Liga side.
Tielemans confirmed he was leaving Leicester in an emotional social media message to the club's fans. "From the first day I set foot on this ground, your warmth and passion embraced me," he wrote.
"Victory and triumph, love, hope and even defeat. We’ve shared many special moments together. I am forever grateful for your unwavering support."
Tielemans secured the club's very first FA Cup with a stunning strike in the final against Chelsea back in 2021.
