The former England striker left the Foxes this summer, ending a remarkable 13-year spell that saw him score a picture-perfect 200 goals in exactly 500 appearances.
Vardy had been linked with clubs like Rangers, Nottingham Forest, Como, and Wrexham. However, a potential move to Genoa is now officially off the table, after manager Patrick Vieira reportedly passed on the opportunity.
Rangers have emerged as frontrunners to land Vardy, with a move to Ibrox gathering momentum.
The veteran striker could be joined by former Leicester teammate Conor Coady, as the Scottish giants embark on a new era under manager Russell Martin.