It is believed that the Foxes will run the rule over the midfielder this pre-season, with several Championship and League One clubs interested in permanent and temporary moves.
A recent report from Portsmouth-based outlet The News credited Pompey with an interest in the young midfielder who spent last season on loan at Cheltenham Town.
Netting nine times and providing a further five assists in 34 third-tier outings, Wright emerged as a regular starter at the Jonny-Rocks Stadium, missing two months in 2021 because of an ankle injury.
The Hatters have developed somewhat of a partnership with the Foxes in recent seasons, with Leicester completing the multi-million-pound signing of James Justin from Kenilworth Road, whilst Kieran Dewsbury-Hall spent the 2020/21 season on loan with the Hatters.
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Last summer, Admiral Muskwe arrived in Bedfordshire from Leicester, with these recent dealings between the two clubs a potential boost for Luton in this scenario.
Cheltenham enjoyed a strong return to the third-tier this year following their title-winning 2020/21 campaign, with Wright’s ability and productivity helping to ease the transition back into League One.
Possessing excellent technical skill, and the ability to cause chaos in the final third, the 22-year-old could be deemed as ready for the Championship next season.
With Luton finishing inside the second-tier play-offs, and ambitions likely to remain high for the next campaign, it will be interesting to see if the Hatters are chasing a permanent deal or not.
Nathan Jones can be reluctant to strike loan deals at Luton, although Dewsbury-Hall’s temporary spell was a successful one.