The Mirror reports that both clubs are keen on signing the 18-year-old, but Leicester boss Sven Goran Eriksson is ready to offer the youngster a bumper pay-rise in order to keep the striker at the club.
“There is no doubt that Jeffrey has a great future ahead of him,” said Eriksson. “He is a fantastic talent and he is just getting better and better.
“This season he is even stronger, more confident.
“He has a little bit of everything. He is strong, has good technique, a good left foot and is not afraid to fight in the air for the ball.”