The Daily Express says the Foxes will have to push their way in front of Bolton boss Neil Lennon, who is set to table a £350,000 bid in January.
Commons, 31, is no closer to agreeing a new deal at Celtic.
That has alerted newly-promoted sides Leicester and Crystal Palace, who are also interested in the playmaker.
Lennon has already confirmed his interest and he is keen to team up with Commons at the Macron Stadium.
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