In midfield, the situation is less dire. Depending on Khannouss’ situation, we do already have plenty of young talent coming through the ranks who can take up attacking or central positions. Honestly, too I am not interested in any of the out-of-contract players in the Premier League. The priority has to be a goal-scoring midfielder who is young but also has plenty of assists for strikers and wingers. This would indicate intelligence in passing and a lack of wastefulness.
Jack Rudoni of Coventry City would be ideal here. At 23 years old, there is the opportunity for a good transfer fee in a couple of seasons, and as a starter with 12 assists and five Championship goals, the Englishman knows how to create in this division. If Khannouss leaves, this might be the best option to provide service for Fatawu, Mavididi, Alves, and whoever the striker becomes. If Khannouss stays, Rudoni would weaken Coventry and provide actual depth.
Conclusion
So, Leicester needs better defensive and progressive talents to offer their explosive forwards swift transitional passes, control of possession in their half, and superior goal-scoring acumen. There are plenty of options from inside the Championship itself and experienced players out-of-contract.
I would go for Emanuel Emegha (Sargent realistically) as our main transfer outlay, with Rudoni, Dunne, and Coyle signed from soon-to-be Championship rivals, and Mitchell from Crystal Palace should his contract not be extended. Leicester City will need these defensive talents, progressive players, and goal scorers to give them an opportunity to strengthen in the context of PSR worries.