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Chelsea have already seen two offers for the 21-year-old rejected, with Sky Sports News told neither was close to Leicester's valuation of the player.
Leicester do not want to sell Fofana and are confident of keeping him after he signed an extended contract in March which runs for another five years. That resolve is likely to be tested by Chelsea later this week.
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Despite the signing of Kalidou Koulibaly from Napoli, another central defender remains a priority for Thomas Tuchel, following the departures of Antonio Rudiger and Andreas Christensen.
Approaches for Manchester City's Nathan Ake and Sevilla's Jules Kounde have so far failed.
Leicester's reluctance to sell Fofana will only increase - as will their asking price - as the window progresses, with less time for that money to be re-invested in a defensive replacement.
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