Portsmouth continue to be linked with Dutch legend Edgar Davids.
Mandaric expects competition for Davids' signature and does not expect the player's age or fitness after so long out of the game to be a problem.
"I don't know (if other teams are interested) to be honest, but if they are then I wouldn't be surprised," said Leicester's owner.
"As long as he's fit, and my manager gives me a green light on that, and he's ready to go and he has the desire to come back to England, age is relative as long as the player is fit and can last a full game. I don't see any problems with that though."