According to Daily Mirror, the young English winger is a target for Tottenham and Liverpool.
It is understood that Gray is frustrated with the lack of first-team chances and will seek assurances from the Foxes regarding playing time next season. Gray was used as a substitute 21 times last season and he is not looking forward to a similar season next year.
Tottenham have been linked with a few wingers lately and the 21-year-old could be a shrewd signing from Pochettino. Gray is very highly rated in the England youth setup and at Leicester. Furthermore, he could be available for a bargain should Leicester decide to sell him.
The report claims that the Foxes want to keep him at the club, but there is not much they can do if the manager fails to provide Gray with the necessary first team assurances.
Meanwhile, the Algerian winger Riyad Mahrez has asked to leave the club this summer. If that happens, Gray is likely to be the natural replacement and that would benefit the Foxes as well as the player.