The third bid for the defender was rejected by the Foxes.
Sky Sports News said the fee was unlikely to hit the full £70m total because of the add-ons.
At the weekend, Brendan Rodgers said his mind wasn't in the right place and left Fofana out of the squad for the game against Saints.
Rodgers said that the young player was not in the right frame of mind to play. A lot going on in the background. It's a tough time for him.
He's a good kid, he's been great for us, but at the moment it's difficult for him. You can't afford that if you're not focused on the task at hand.
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Rodgers admitted over the weekend that he doesn't know what will happen before the transfer window closes.
Youri Tielemans was dropped to the bench in the same match, with the Belgian linked with a move to the north London club.
Rodgers said he didn't know if it was a concern if players left. There have been a few offers for some of the players, but they are not close to what the club would want to sell.
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They aren't for sale." I know how the game works and how the business works but there are a few weeks left in the window.
I don't know what will happen but my only focus is the players we have here and getting them back to that level of confidence."
Anthony Gordon is going to be paid up to 60 million dollars by the Blues.
The player is not for sale at this point in time. The fee is the total value of a potential deal.
The 21-year-old was the subject of a £40m-£45m offer from the Blues. The London club are willing to increase their offer because of the conversations they have had with the other club.
Gordon's current contract is set to end in June 2025.
The parties are optimistic that a deal can be struck to sign Pierre-Emerick.
An agreement is close according to a source. It is thought that the deal is worth between 15 and 25 million dollars.
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