Musa, 23, currently has a $32.5m (£22.8m) buyout clause in his CSKA contract, which runs until 2019, meaning that any club which bids for this amount can have him. In January, Leicester put in a £15.1m bid for Musa but it was rejected by the Russian club who were holding out for their full evaluation of the player.
Manchester United were said to have entered the fray too with a bid of their own, getting in touch with Musa's London agency, although the full details of the bid have not been disclosed. Having won the Premiership title against all odds, Leicester are now looking to strengthen their squad ahead of the 2016/17 season when they will be hoping to defend their crown.
According to CSKA Moscow manager, Leonard Slutskiy, the English side has made a bid close to £23m for the attacking winger. He added that Leicester is back in the race to prise away the striker, who is also keen to move to the King Power Stadium in the summer.
Mr Slutskiy said: “The British club offered a bit less than €30m (£22.86m). Musa came to me a few days ago and asked when Ranieri is back for the holidays and I told him I do not know, I do not know Ranieri.”
However, the CSKA manager appears to be accepting the reality that it is only a matter of time before Musa leaves the Russian champions. Musa scored 13 goals in 30 league appearances for CSKA this season with five assists, averaging 206 minutes per goal.
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