Monga, 16, is attracting major interest from a number of Premier League clubs this summer, including from Arsenal and Brentford.
The Gunners are the most advanced in their interest, but City - who are long-term admirers of Monga - are understood to have made enquiries towards a potential move in recent days.
Monga - who turns 17 this month - agreed to a one-year scholarship contract which is set to turn into a professional contract 10 July.
That means interested parties will be required to pay a transfer fee for the teenager, wiith reports indicating Leicester want a minimum of £10m.
Monga, who has made 37 appearances for the Foxes, is the third-youngest player to feature in a Premier League match, behind Arsenal duo Max Dowman and Ethan Nwaneri.
World Cup scouting: Vinicius Jr, Barcola and Kanepublished at 15:03 BST 1 July
15:03 BST 1 July
Image source, Getty Images
We asked you which players you have watched at the World Cup that you think would be a great fit at Arsenal.
Here are some of your comments:
Mo: Vinicius Jr would be a dream signing for Arsenal. His pace, flair and ability to take on defenders would fit Arteta's football perfectly. Obviously he has been frustrated at Real Madrid, particularly with the treatment he has received and the racist abuse he has endured in Spain. The Premier League and London could offer him a fresh start. Arsenal fans would absolutely adore a player with his passion, skill and entertaining style. He is a proven winner who could take Arsenal to another level and make the club genuine contenders for every major trophy.
John: Morgan Rogers would bring a bit more swagger to the midfield.
Wishy: We need a permanent left winger. So I'm looking a Vinicius Jr. I know the price tag will be massive, but we may as well try.
Eric: Bradley Barcola's explosive pace, elite dribbling and high defensive work rate make him the perfect dynamic and left-sided counterpart to Bukayo Saka in Mikel Arteta's system.
Brian: Harry Kane - he may be getting old but he knows where the goal is. Nico Williams - young and experienced.
Cam: Summerville. Really like him and would change Arsenal along with signing Bouaddi.
Dom: Ayyoub Bouaddi - young, energetic and can play in multiple positions. Gives us more dynamics in midfield.
Arsenal eyeing Meslierpublished at 09:32 BST 1 July
09:32 BST 1 July
Sami Mokbel Senior football correspondent
Image source, Getty Images
Arsenal have a strong interest in Leeds United goalkeeper Illan Meslier.
There is a doubt over current second-choice keeper Kepa Arrizabalaga's future heading into next season, resulting in Arsenal exploring the market for a replacement.
Meslier, who has lost his place as number one at Leeds, is out of contract this summer and the 26-year-old is available on a free transfer.
Odegaard's assist beatpublished at 08:46 BST 1 July
08:46 BST 1 July
Image source, Getty Images
In Norway's win over Ivory Coast, Arsenal's Martin Odegaard became only the third player on record (from 1966) to assist a goal in each of his first three Fifa World Cup appearances, after Igor Belanov for USSR in 1986 and Michael Ballack for Germany in 2002.
In less positive news from an Arsenal perspective, Gunners defender Piero Hincapie became the second player at the World Cup to be shown a red card for covering his mouth while speaking to an opponent in stoppage time of their 2-0 defeat against Mexico.
Gossip: Arsenal face competition for Bouaddipublished at 08:21 BST 1 July
08:21 BST 1 July
Paris St-Germain value France winger Bradley Barcola at more than £116m and maintain their stance that the 23-year-old does not need to be sold amid interest from Liverpool and Arsenal. (Athletic), external
Manchester City, Manchester United and Bayern Munich have joined Arsenal by expressing interest in Morocco midfielder Ayyoub Bouaddi, but Lille want at least £70m for the 18-year-old and to keep him on loan next season. (Mail), external
Meanwhile, Liverpool, Arsenal, Manchester United and Borussia Dortmund are interested in 25-year-old Mainz midfielder Kaishu Sano, who scored for Japan in their World Cup last-32 defeat by Brazil. (Bulinews, via Nikkan Sports), external
Madueke on his 'healthy competition' with Sakapublished at 11:10 BST 30 June
11:10 BST 30 June
Image source, Getty Images
Noni Madueke says the "healthy competition" between himself and Arsenal team-mate Bukayo Saka in the England squad doesn't affect their relationship.
Since the World Cup started, England boss Thomas Tuchel has been managing Saka's minutes because of his Achilles tendinitis . This gave Madueke the chance to start on the right for the opening two Group L matches.
Saka started in the most recent game against Panama, but was later replaced in the second half by Madueke.
"It comes down to the coach's decision - what he wants and what he thinks is best for the team - but, from my side, I'm always ready," said Madueke.
"Obviously it's well documented that we're very close, so normally it should be a little bit strange - but it's not. I feel like it doesn't really affect our relationship whatsoever.
"I feel like we want the best for each other when each other plays. If he plays well, [or] I play well, then England and Arsenal have a better chance of winning.
"In terms of how we differ, I thrive in space and he thrives in congestion.
"You always have to be at the highest level because you know you have a top player waiting and biting at your heels to try to get in the team.
"That type of healthy competition is good, but when playing for Arsenal and England you don't really need anyone else to keep you at the highest level. You know that's a requirement."
Martinelli sends Brazil through but Havertz's Germany crash outpublished at 08:39 BST 30 June
08:39 BST 30 June
Media caption,
Gabriel Martinelli's winner for Brazil, clocked at 95:00, is the latest winning goal in normal time of the World Cup knockout stage since records began in 1966.
Brazil came from a goal down against Japan to secure a 2-1 win in the final moments and avoid a surprise last-32 exit.
Media caption,
However, Martinelli's Arsenal team-mate Kai Havertz's Germany suffered a devastating exit to Paraguay on penalties with the striker failing with the first spot-kick.
Havertz did equalise on the night but his effort was saved in the shootout to contribute to Germany's first loss on penalties in World Cup history at the fifth time of asking.
Return of 'world-class shield' Rice will give Tuchel and England reassurancepublished at 09:37 BST 29 June
09:37 BST 29 June
Phil McNulty Chief football writer
Image source, Getty Images
Thomas Tuchel started the World Cup with Ezri Konsa and John Stones as his favoured central defensive pairing against Croatia, but has switched to Konsa and Marc Guehi in the past two games.
Stones only started five Premier League games last season before leaving Manchester City. Is he now out in the cold? Or is Tuchel saving this outstanding and classy operator for the knockout stages?
Whatever Tuchel's reasoning, England's defence was vulnerable in Saturday's 2-0 win over Panama and too often exposed as their opponents were allowed 13 attempts on goal. Panama also had a late consolation for Jose Fajardo narrowly ruled out for offside.
Tuchel is now preparing for what he regards as "chapter three" of England's quest to win their first major men's trophy since the 1966 World Cup.
"We wanted to win the group," he said. "There is no substitute for wins and we have that feeling again. Three days to prepare the match in Atlanta. The tournament starts new again. We had the first chapter in prep camp, the second chapter in the group, and the third chapter is coming."
For all Tuchel's upbeat words, it was impossible to escape the ominous feeling – indeed inevitability – that if England defend with such uncertainty, and are pierced so regularly, by superior opposition and the world-class forwards they will hope to face by going deeper into the competition, punishment will be heavier and their World Cup hopes could disappear.
The big plus for Tuchel, and the world-class shield that will act as protection against the sort of openings Panama created, will be the expected return of Arsenal midfielder Declan Rice for the last-32 tie against DR Congo on Wednesday (17:00 BST).
Jude Bellingham and Morgan Rogers was the positive selection against Panama, ahead of the more conservative choice of Manchester United's Kobbie Mainoo, but it sometimes left England too open.
Rice's presence alone will give Tuchel, as well as his England team-mates, reassurance. This is, perhaps, why Tuchel spoke with such confidence despite Saturday's mixed performance.
🎧 Listen to 21st Century Folk: Passenger writes song for Arsenal fanpublished at 09:23 BST 29 June
09:23 BST 29 June
Media caption,
Passenger sings Victor's Song to Arsenal fan Victor Macauley
If you're looking for some music to add to your summer playlist, BBC Radio 2's new programme 21st Century Folk has you covered.
The new series, which will air on Monday as part of The Folk Show with Mark Radcliffe, sees five renowned folk artists write and compose songs inspired by five people whose lives have been touched or transformed by sport.
Arsenal fan Victor Macauley, who was born in Sierra Leone before seeking a better life in England, has his story told through an original song written by artist Passenger.
Songwriter Mike Rosenberg, who also supports the Gunners, is best known for his 2012 hit Let Her Go, which reached number one in 16 different countries.
Victor's Song explores personal experiences that have shaped his life, from being abducted, drugged and forced to fight against the government in his homeland at the age of six to experiencing homelessness in London as a teenager.
He continues to battle with post-traumatic stress disorder and depression, but help from various charities, including Arsenal In The Community, has changed his life.
The charity gave him the opportunity to play weekly football and take part in a photography course, and now he works for a running charity and assists Arsenal's official photographers when he isn't being a fan in the stands.
Gossip: Monga a target as Gunners look to add fivepublished at 08:05 BST 29 June
08:05 BST 29 June
Arsenal are looking to add five more players during the summer transfer window with Leicester City's 16-year-old English winger Jeremy Monga among players targeted by the Premier League champions. (Star), external
Performance coach Wilson set to leave Arsenalpublished at 20:01 BST 27 June
20:01 BST 27 June
Alex Howell Arsenal reporter
Image source, Getty Images
Image caption,
Sam Wilson has been a coach at Arsenal since 2014
Arsenal's lead performance coach Sam Wilson is set to leave the club and join a European team.
Wilson, who has been at the Gunners since 2014 and with the first team for the past seven years, has been strongly linked to Juventus as former Arsenal head of performance Darren Burgess is director of performance in Turin.
Sources say that the move is Wilson's decision, and he could have stayed with the Gunners but is leaving for a more senior role elsewhere.
His departure comes after a number of backroom changes at Arsenal who last season won the Premier League title for the first time in 22 years.
Despite lifting silverware, Arsenal suffered a number of injuries and head of sports medicine Dr Zafar Iqbal has left the club with the process of replacing the medic, who also worked at Crystal Palace and Liverpool, under way.
Arsenal have been conducting a review into their medical department with Mikel Arteta's long-term friend Joaquin Acedo consulting for the Gunners last season.
The physio has known Arteta since his days as a player at Everton.
Reports say that rehabilitation specialist Eneko Angulo is leaving Real Betis after 12 years at the end of this month following an approach from Arsenal.
Angulo posted an emotional goodbye letter on social media with his anticipated appointment part of Arsenal's move to revamp their medical department.
'Inflation on midfielders in this transfer window is crazy' - fans on targetspublished at 18:23 BST 26 June
18:23 BST 26 June
We asked for your views on Arsenal's hunt to add a new central midfielder to their squad this summer, with the club showing interest in Newcastle United pair Bruno Guimaraes and Sandro Tonali, Bournemouth's Alex Scott and Lille's Ayyoub Bouaddi.
Here are some of your thoughts:
Matthew: Guimaraes would be my first choice. He is tenacious, resilient and skilful. I would also like to see Bournemouth's Scott in the squad though.
Nigel: With the greatest of respect, I don't want Guimaraes or Tonali. They are liabilities and live to be shown a card. We need more stability, which is what we have with Declan Rice and Martin Zubimendi. The midfield isn't really an area of concern for development, in my opinion, the left wing is. That's where we need Vinicius Jr.
Arjun: We need someone reliable so Rice can push forward. Bouaddi is my dream signing - he is strong, composed and like Sergio Busquets!
Joseph: We already have Myles Lewis-Skelly, Rice and Martin Odegaard. We should be looking to go all out on a left-winger and a striker. The inflation on midfielders in this transfer window is crazy.
Alexander: With Ethan Nwaneri and Odegaard looking to be on their way out this summer, the Gunners need to invest in the central attacking midfield position. Eli Junior Kroupi is a generational talent. The teenager scored 12 goals in his debut season at Bournemouth and he would really add an attacking edge.
Who do you want to see in Arsenal's midfield?published at 16:45 BST 26 June
16:45 BST 26 June
Sami Mokbel Senior football correspondent
Image source, Getty Images
Arsenal have held exploratory talks over potential moves for Newcastle United pair Bruno Guimaraes and Sandro Tonali - and we want your thoughts on the latest developments.
As things stand, it is understood Arsenal only want one leading central midfielder, and Bournemouth's Alex Scott and Lille's Ayyoub Bouaddi are other options being considered.
With Guimaraes turning 29 in November and Tonali having turned 26 in May, the age of both players is likely to emerge as a key factor in how much Arsenal would be willing to pay.
Sources have indicated the Gunners have also expressed a firm interest in 22-year-old Scott, who currently has interest from Manchester United and Chelsea.
The merits of swoops for Morocco international Bouaddi and West Ham's Mateus Fernandes, who is also a key target for Tottenham, have also been assessed internally.
Arsenal sporting director Andrea Berta is renowned for working on numerous deals simultaneously before making a final decision on which one to execute.
The arrival of another central midfielder will lead to the sale of a current player in the same position, with Christian Norgaard someone the club will listen to offers for.
It could also bring into question Martin Zubimendi's role as a regular starter in Mikel Arteta's starting XI next season.
What do you think about the Arsenal's midfield targets? Who do you want to see at Emirates Stadium next season?
Bournemouth join race for Arsenal target Mbembapublished at 16:37 BST 26 June
16:37 BST 26 June
Nizaar Kinsella Football reporter
Image source, Getty Images
Bournemouth have joined Arsenal in exploring a move for Paris St-Germain defender Emmanuel Mbemba on a free transfer.
The Cherries have held initial talks over a development pathway for the 18-year-old left-back, who can also play at centre-back and will be available for a nominal training compensation fee when his contract at PSG expires.
The plan would see Mbemba move on loan to Lorient - part of the Black Knight multi-club ownership group - to continue his development before potentially returning to play in the Premier League.
It would not affect Marco Rose's first-team plans this summer, with Bournemouth primarily targeting a centre-back, working on a contract renewal for key midfielder Alex Scott and potentially looking to sign a striker should Enes Unal leave.
Although Arsenal have offered a similar pathway, they are unable to provide it within the same ownership structure, which could give Bournemouth greater control over his playing time while on loan.
Arsenal's proposal is still understood to have impressed, with Mikel Arteta's side pointing to their stable leadership and their track record of developing players, including France international William Saliba during a loan spell at Marseille.
Mbemba is a France youth international and recently captained PSG's under-19 side to French Youth Cup success at the Stade de France.
Why Saka needs to start for Englandpublished at 10:27 BST 26 June
10:27 BST 26 June
Image source, Getty Images
Since 2006, every World Cup winner has dropped points in their first or second group game - but what they have also done each time is go on to win their group.
I am confident England will do that too, by beating Panama on Saturday, but I would not be surprised if Thomas Tuchel makes three or even four changes to his team after such a disappointing result and performance.
Probably the biggest call for Tuchel is what he does with his wingers.
I didn't think Anthony Gordon or Noni Madueke were positive enough against Ghana. By that I mean they didn't attack their defender enough when we got the ball out to them out wide.
Their crossing was really poor as well, and often it didn't beat the first man. Our delivery from set-pieces was not great either, but in open play the service from the wingers was pretty much non-existent.
That's why I think Tuchel will change it up, and Bukayo Saka and Marcus Rashford have definitely done enough when they have come on in both games to get a chance to start.
Saka's fitness is surely the only reason he hasn't started either game so far, but if he's ready this time then he would come in on the right, with Rashford on the left.
What I want to see from both of them is more energy and to be more direct in one-against-one situations by trying to go past players.
There also needs to be more forward passing rather than taking the easy option by going sideways or backwards.
James more of a fitness doubt than Ricepublished at 09:00 BST 26 June
09:00 BST 26 June
Sami Mokbel Senior football correspondent
Image source, Getty Images
Chelsea's Reece James missed training with England on Thursday which has thrown his fitness into doubt for the Three Lions' final World Cup Group L game against Panama.
The 26-year-old right-back suffered a hamstring issue in the goalless draw with Ghana on Tuesday and did not train with his team-mates in England's penultimate session before Saturday's game (22:00 BST).
It now remains to be seen if James is fit enough to start or be an option from the bench in the final group game at New York New Jersey Stadium.
Meanwhile, Arsenal's Declan Rice, who left Boston Stadium after the Ghana draw with strapping on his left calf, was also absent from Thursday's session at England's training base in Kansas City.
Sources indicate the 27-year-old midfielder's fitness is less of a concern. However, it remains to be seen if Thomas Tuchel is willing to start Rice - particularly given he is at risk of suspension for the last 32 after being booked against Ghana.