The Foxes have already reportedly rejected two offers from Roma, who have reportedly tabled a third bid of £31.8m for the Algerian international.
The 2016 PFA Player of the Year is hoping to start a new chapter in his career but may well have to remain where he is until January at least, if Leicester’s stance doesn’t soften.
Speaking at the unveiling of Gregoire Defrel, ‘Monchi’ said: “I’m an optimist in all aspects of life. Roma is doing everything possible to sign the player.
“If my memory serves me right, the last offer – that was so widely discussed – would have been the highest transfer fee ever paid by this club.
“We’re not holding anything back in our attempts to sign the player, but right now we’re not expecting a positive response.
“At the same time, we’re working on other things. The club is close to the limit right now in terms of the effort we’re putting in and I truly believe that the offer we’ve made is a very significant one.
“Whether we reach an agreement with Leicester, or another team, we will have no regrets.”