Mahrez has handed in a transfer request at Leicester and is keen to move this summer.
The 2015/16 title winner has been earmarked as a replacement for Mohamed Salah, who has joined Liverpool.
And Italian newspaper Leggo claim the Foxes want £48million for their ace.
According to the report, Roma sporting director Monchi met up with Mahrez’s representatives yesterday to discuss a move.
The director appears to be working outside the knowledge of their owner James Pallotta.
“Monchi is doing a great job,” Pallotta said.
“Mahrez? I do not know who he is.”
The owner has already come under fire for selling Salah and has refused to let any more players leave this summer.
“(Radja) Nainggolan is not going anywhere, and neither is (Kostas) Manolas,” he told Leggo.
“They will not go away. We will only sell for two reasons. First, Financial Fair Play. In this case we are forced to sell to comply with the parameters.
“The second is a player’s value. We will sell because we think that with that money we can buy players that will demonstrate the best of those who departed.”
Leicester themselves have signed Vicente Iborra and Harry Maguire this summer, while goalkeeper Ron-Robert Zieler has been sold to Stuttgart.
