The Leicester Mercury says Leicester local Thomas is out of contract at the Ricoh Arena, but Coventry are entitled to compensation for the 20-year-old because he has been developed by their academy.
If a fee cannot be agreed between the two clubs, the case could go to a tribunal to decide how much City must pay for Thomas.
Coventry manager, and former City striker, Mark Robins is hoping the matter is resolved soon.
“The George Thomas situation will hopefully come to a conclusion because that's dragged on far too long for the boy, for us and everyone concerned," said Robins.
“(Leicester) came in a while ago and it was turned down and we were just waiting for them to come back.
Coventry boss Mark Robins during the EFL Trophy final (Image: Charlie Crowhurst/Getty Images)
“For whatever reason it has taken six weeks but nothing has come back."
He added: “I can't put a deadline on it. If he's out of contract he doesn't get paid any more. I think the world of him. He's a great kid who has been here a long time and a Coventry supporter really.
“He lives in Leicester and from my point of view it needs to get resolved now as quickly as possible because I just don't think it's right and I don't think it's fair how it drags on."