The 23-year-old forward has scored 14 goals on loan to SPAL and is one of the main reasons the team lie 11th in Italy’s top-flight.
Petagna has a €20 million price tag and Leicester’s scouts have reportedly been impressed by the forward. But they face fierce competition from Atletico Madrid, who see him as a potential replacement for Diego Costa – the Italian has a similar aggressive style to the Brazilian. Spurs, Besiktas, Eintracht Frankfurt have also reportedly made enquiries about Petagna.
Cardiff were in advanced negotiations with the player in January but talks broke down, leading to the ill-fated signing of Emiliano Sala instead, who perished in a plane crash.
Born in Trieste, Petagna told reporters in Italy that he has a strong Jewish identity. He said he fasts on Yom Kippur and has visited Auschwitz, where his great grandfather was murdered.
He has a Jewish mother, Alessandra, and has represented Italy at the Maccabiah games in Israel, while his father Euro is a former coach of the Italian national youth team.
Petagna rose through the ranks of AC Milan and had spells with Sampdoria and Ascoli before joining Atalanta. He has made one appearance for Italy.
Any summer move for Petagna could be complicated by the fact that SPAL have the right to buy him for €10 million if they avoid relegation.