Sven-Goran Eriksson admits Leicester could see Curtis Davies slip through their net in January.
The centre-half is currently on loan at the Walkers Stadium from Aston Villa, but that deal will expire in the New Year.
Leicester had been hoping to tie up a £2.5million move in the January transfer window, having been suitably impressed by the former England Under 21 international.
Their plans could be scuppered, though, by interest from afar, with a number of other clubs having been made aware of Davies' availability.
Among those said to be keen are German outfit Werder Bremen, who are prepared to gatecrash any approach from Leicester.
Foxes boss Eriksson concedes he may end up empty-handed, with there little more he can do to tempt Davies into making a permanent move.
"Curtis hasn't made up his mind what he wants to do but we want to keep him," said the Swede.
"Leicester is one option and he doesn't quite know what the others are. But, if a big club comes in, it'll be difficult to compete."