Leicester City have bid £23.2million for Panathinaikos striker Fotis Ioannidis amid competition from Sporting Lisbon.
The Foxes also remain in talks over a possible loan deal for Galatasaray's Wilfried Zaha.
Greece international Ioannidis, 24, scored five goals in six Europa League games for Panathinaikos last season.
Meanwhile, 31-year-old former Crystal Palace and Man United winger Zaha produced one goal and one assist in six Champions League appearances.
Zaha has also been linked with interest from Palace, Wolves and West Ham this summer, with a return to the Premier League - where he previously netted 68 goals in 305 games - highly likely.