The English striker and Algerian winger have been two of the Premier League’s standout players in what has been a shock season, with their combined 28 goals and 10 assists having fired the Foxes into the title race.
Leicester currently sit level on points with Arsenal at the top of the table, and with Mahrez and Vardy having been so impressive they have attracted attention from a host of ‘bigger’ clubs.
Chelsea and Manchester City are thought to be looking closely at Vardy, while reports have claimed that both Spurs and Manchester United have tabled bids of close to £30m for Mahrez.
However, the club’s owners are ready to offer the duo fresh contracts.
Vardy currently pockets £40,000-per-week and has two-and-a-half years to run on his current deal and it’s understood that an offer to tie him down and boost his earnings is set to be put forward.
Mahrez may also be presented with fresh terms, with his performances so far in 2015/16 having made him the Premier League’s standout player.
Leicester’s owners have operated with a strict wage structure since taking over the club in 2010, but they recognise that the duo’s rises warrant special treatment.