Charlie Adam weighs on in Mahrez future at Leicester
However Ranieri claimed after Saturday's win over Celtic the PFA Player of the Year would not be leaving the King Power Stadium.
The Italian said: "Did you see Riyad, how he is happy? He played well and worked so hard for the team and scored a good goal. Then he stays with us. Of course.
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“For us it is very important because he is one of our stars. He is our fantasy. We can work hard but with him something change.
“With another team there are many more stars and maybe he doesn't play at the same level. Maybe he go on the bench. It is much better he stay here with me and another year is important for him."
Sky Sports add the future's of Kasper Schmeichel, Danny Simpson, Jeff Schlupp and Danny Drinkwater will also be under discussion at the meeting in Los Angeles .