Catalan newspaper Sport report Mahrez has been offered to Barcelona, with the insinuation the offering would be from the player's entourage, and the club have politely turned the approach down.
Now Roma are set to wait and see if Leicester will relent over the 26-year-old Algeria worldwide who has attracted interest from Arsenal, Monaco and Barcelona in the past.
The Roma deal-maker believes that the club have put in their best offer for the winger and has left the decision to Leicester whether they want to sell Mahrez at the price. Now the ball is in their court. "We won't bid again", he told a press conference ahead of a friendly with Celta Vigo this weekend.
Asked if he expected the 26-year-old to stay after a goal-fest opening day fixture at the Emirates stadium where Leicester City lost 4-3, Shakespeare said: "Who knows?"
Speaking to his club's website, he added: "If my memory does not deceive me, the last offer we made would make it the most expensive purchase in the history of the club".
Leicester manager Craig Shakespeare was quizzed on Mahrez's future on Wednesday. "We're working on other options but we're relaxed given our squad is 90 per cent complete". He hasn't given me one problem where I've had to take him to one side and say, 'Oi, pull your finger out'.