Benfica expect to lose defender Andre Almeida this summer.
Almeida attracted enquiries from Leicester City in January and O Jogo says they remain keen.
Benfica are seeking €15m for the right-back and expect Leicester to bid.
The Portuguese giants are already drawing up plans to replace Almeida, with Penarol fullback Guillermo Varela, formerly of Manchester United, on thief radar.
Almeida, 27, has spent his entire senior career with Benfica.