Leicester have opened initial talks with James Maddison and Caglar Soyuncu over improved, long-term contracts, Sky Sports News understands.
The Foxes are keen to reward Maddison and Soyuncu with significant pay rises after impressing during the first half of the season.
They are also keen to include tighter sell-on terms into their new contracts amid reports of interest from Manchester United and Manchester City.
All parties are understood to be relaxed about the negotiations, with Maddison and Soyuncu having four-and-a-half years to run on their current deals.
But Sky Sports News understands Leicester are determined to keep both players at the club and neither will be sold in January.
Last week, manager Brendan Rodgers ended speculation over his future by signing a new five-and-a-half-year contract at the King Power Stadium.
His previous contract was due to expire in 2022, but suggestions that the deal contained a release clause had fuelled talk of a move away.
Leicester currently sit second in the Premier League, eight points behind leaders Liverpool, having won their last eight matches.
They will look to consolidate their position in the title race during the festive programme, with matches against Manchester City and Liverpool.
How to follow the January transfer window
Sky Sports will bring you the very latest news from the January transfer market with the return of three shows.
Start your day with Good Morning Transfers at 9am as our team of reporters bring you the latest news and insight. Transfer Talk then follows at midday delivering analysis of the biggest stories. Then join us at 7pm for the definitive round-up of the day's news with The Transfer Show.
Meanwhile, the Transfer Talk podcast will also be back at the turn of the year with more expert analysis from here and across the continent.
And as well as tuning into Sky Sports News, don't miss a thing with our dedicated Transfer Centre blog.