Riyad Mahrez's agent is trying to persuade Roma to increase their offer to Leicester to £40m with the inclusion of add-ons, according to Sky in Italy.
The Serie A club have bid £31.8m and have left "the ball in their court", with no plans to bid again for the want-away Foxes forward.
Roma have imposed a deadline of midnight on Tuesday, August 15 for Leicester to respond to their latest offer, and will then move on to alternative targets.
Mahrez told Sky Sports News in May that he wanted to leave the club this summer, but he played in Leicester's dramatic 4-3 defeat at Arsenal in their Premier League opener, live on Sky Sports.
Roma's other bids were £20m and £27m and their sporting director Monchi said at the weekend: "In the last press conference I said we had bid what we believe to be a fair offer, which is also the biggest in the club's history.
"We won't bid again. We've conducted ourselves in the right way by talking to Leicester City. Now the ball is in their court.
"We're waiting for an answer. We're working on other options but we're relaxed given our squad is 90 per cent complete."
Roma's previous transfer record is the £22.5m paid for Gabriel Batistuta from Fiorentina in 2000.
Mahrez has scored 35 goals in over 100 appearances for Leicester since a £560,000 move from French Ligue 2 side Le Havre in 2014.
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