The Daily Express says the Dane is set to choose between Arsenal, AC Milan or Southampton after all three clubs contacted the Leicester stopper about joining in the summer.
Schmeichel is out of contract in the summer and has stalled over signing a new deal with the Foxes despite helping them gain promotion to the Premier League this term.
Schmeichel’s agent, Kenneth Shepherd, revealed: “When you prove that you are a capable and stable keeper through two difficult seasons in the Championship, you will be in demand.
“But Kasper knows what he gets from us, and the important role he has in the Premier League. We can only hope makes the difference.”