The Foxes are currently managed by Claude Puel, however they haven't won any of their last five games, and have now dropped to ninth in the Premier League table.
The fans have visibly shown sign of becoming increasingly frustrated by the club's lack of progress with a rather tense atmosphere around the King Power Stadium in recent weeks - despite chairman Vichai Srivaddhanaprabha publicly offering his full support to Puel.
Nevertheless with the threat of a potential sacking on the horizon, other targets are now being pinpointed, with Wagner's name being amongst the first to spring to mind.
In fact, Leicester reportedly approached Wagner after sacking Craig Shakespeare in October 2017, but opted to sign Puel instead. Unfortunately for Leicester fans, Wagner seemingly ruled himself out of the manager's job while speaking to the Leicester Mercury.
The German claimed he wishes to see out the rest of his contract at the Kirklees Stadium and that the transfer speculation doesn't bother him. He said: "It's totally easy because I know what the truth is and what isn't. You have to speak and write about it and I know exactly what the truth is.
"The truth is I have a clear commitment with [chairman] Dean [Hoyle] and I will follow it like I have done last year and this is exactly the same as I'll do this year. This is why I can easily deal with it. No problem for me."
Huddersfield continue their quest for Premier League survival when they take on Chelsea at Stamford Bridge on Wednesday evening, whilst Leicester look to hang onto ninth place and grab their first win in five games when they face Arsenal at the King Power Stadium.