Leicester have made an offer to buy the Belgian second division side OH Leuven as the owners of the reigning Premier League champions attempt to expand their influence in European football.

According to Belgian newspaper HLN, Aiyawatt Srivaddhanaprabha, the son of Leicester owner Vichai Srivaddhanaprabha and the club’s vice-chairman, has offered “a multiple of £2m” to purchase Leuven, who were relegated from the Jupiler League last season. That has yet to be accepted, although a delegation from Belgium has been invited to watch Leicester’s game against Watford at the King Power Stadium on Saturday.

It is understood that Srivaddhanaprabha would like to rebuild Leuven, which is located in a vibrant student city, to act as a feeder club for Leicester and eventually challenge for qualification for European competition. He is believed to have promised to provide a substantial transfer budget and aspires to build a brand new stadium and new training complex amid competition from a group of Chinese investors, the Shanghai Naisi Investment Management Centre.

They submitted an offer of £2m to purchase Leuven in January and are thought to have exclusivity until the end of June, although they have yet to respond to questions posed by Leuven’s board and the city council, meaning Srivaddhanaprabha’s offer could prove more attractive.

Last month, Manchester City announced the latest addition to their growing portfolio of clubs after completing the acquisition of a second division club in Uruguay.