According to BBC Sport, Mahrez has handed in a request but Leicester City are adamant that he will not be sold this winter.
The report also claims that Manchester City have made a bid of £50 million for the Algerian international.
However, Sky Sports are also reporting that City have made a third bid of £55 million for Mahrez.
The Leicester star now faces a nervy time before the transfer window closes on Wednesday, as he seeks a move away.
Mahrez has long made it known he wants to leave Leicester but the Foxes will surely not want to let him depart, particularly this late in the window.
The player may need to push for the move and City may well have to make a huge bid if they are to land him before the window shuts.
It’s difficult to see at this point which way this one will go, but there may well be a few more twists and turns before Wednesday’s deadline.