Former Portsmouth chairman Milan Mandaric insists reports saying there is a 50-50 chance of him buying Leicester are wide of the mark.
Mandaric has not ruled out a return to football with Leicester
Mandaric recently cut his ties with Pompey and insists he needs some time away from football.
He told BBC Radio Leicester: "I am ten days away from my emotional departure from Portsmouth and I am not making any strong commitments anywhere.
"But I do have tremendous respect for Leicester and you never know."
Mandaric added: "I would still like to be away for football for a little bit longer than I am.
"I have never indicated I had any dialogue with Leicester people or was close to any kind of deal."
He admitted: "Leicester are a very interesting club and in future if I were to come back in football I would not ignore it.
"But I'm not saying I am anywhere close to acquring Leicester City - I have not had any conversation with the people from the football club."
The Serbian businessman, 68, added: "I am football mad and love the game and the English game - I have tremendous experience and memories with Portsmouth."