Stade Francais star Juan Martin Hernandez claims Leicester have made inquiries about signing him but insists he will honour his contract in Paris.
Hernandez would prefer to be playing at number 10
The 24-year-old Argentine is unsettled because of a lack of opportunities at fly-half for Stade Francais.
Hernandez is playing full-back because Stade already have France stars David Skrela and Lionel Beauxis at number 10.
"I am under contract with Stade Francais until June 2009 and I am therefore not available," he said.
"The truth is that a lot of clubs or franchises in Europe, and therefore in France, know that I wish from now on to play at number 10 and that here, there isn't a place for me there.
"They (Leicester) therefore asked me if I was free and in this case, they were offering me this position.
"But I replied that I was under contract and therefore the discussions did not go any further."
Leicester's appointment of Argentina coach Marcelo Loffreda at Welford Road for next season will add further weight to rumours Hernandez could yet make the switch.
Hernandez has established himself as one of the leading backs in the world after impressing for both Stade and Argentina in recent seasons.