Several bookmakers have suspended betting on Martin O’Neill leaving his role with the Republic of Ireland for a return to Leicester.
The Premier League side are on the look-out for a new manager after parting company with Nigel Pearson earlier this summer.
O’Neill managed Leicester to League Cup success in 1996-97 and 1999-00 and, as such, is still fondly thought of by the Foxes’ support.
The 63-year-old has been in charge of the Republic since November 2013, but his first full qualifying campaign looks likely to end in failure to qualify for next year’s European Championships in France.
The Guardian claim a source within the FAI has suggested the association will not stand in O’Neill’s way should he wish to return to club management.
O’Neill, who won two European Cups as a player under Brian Clough at Nottingham Forest, has also managed Celtic, Aston Villa and Sunderland.
Meanwhile, Bolton boss Neil Lennon, who played under O'Neill at Leicester, has also been linked with the vacancy.
