The Ivory Coast international is interesting Valencia in Spain.
And The Sun says Blackburn Rovers are lining up a £3million move for Bamba.
Rovers boss Steve Kean had the defender, 26, watched in City's 1-0 weekend win at Coventry - as well as their friendly against Real Madrid.
Kean now plans a swoop for the Ivory Coast ace.
The Foxes, managed by Bamba's ex-national team boss Sven Goran Eriksson, also aim to offer Bamba a bumper new deal.