After much contemplation he made a decision to remain at the King Power Stadium, and it was the same when Tottenham Hotspur showed interest in January.
Mahrez, a £560,000 signing from Le Havre in 2014, is still unsure where his future lies as no approach has officially been made by any of the interested parties.
"It's an honour to receive compliments like this from such a big manager in world football", Mahrez said in a report on the London Evening Standard. Claudio Ranieri was sacked amid a relegation battle, the feeling around the club was dire and down-heartening and Mahrez was unable to replicate the same as his PFA player of the year campaign of the previous season.
"I think it would be the right time for me to leave, I have experienced everything at this football club".More news: UK ministers push for Johnson to take over from Theresa May
The Algeria global won the PFA Players' Player of the Year award at the end of the 2015-16 season, a just reward after he played a crucial role in Leicester's improbable run to the Premier League title.
The 26-year-old winger has endured a hard campaign after a spectacular 2015/16 season in which he was crowned PFA Players' Player of the Year.
There were rampant rumours linking him with an exit last summer, with Arsenal one of the touted destinations, but with their miraculous Premier League title resulting in a Champions League place, the dazzling winger was convinced to stay at the King Power and test himself in Europe.
The Algerian global played a starring role in The Foxes' history-making Premier League title victory past year, netting 17 league goals as the club claimed it's first-ever top-flight crown.
The Frenchman said via The Sun: "We have not made a bid for him but personally I like the player, yes. I should be leaving but I still don't know where, so we'll see".