Mahrez having declared he want to leave Leicester city by May, we understand that the latest bid for him was around 27M, and was rejected by Leicester.
The Algeria international started in both Leicester's Asia Trophy games against West Brom and Liverpool last week.
Mahrez joined Leicester from French second-tier side Le Havre in 2014 and took a starring role in their Premier League title-winning season in 2015-16.
The 26-year-old was linked with a move last summer but elected to stay and scored 10 goals in 48 appearances last season.
