With Ron-Robert Zieler's future unclear, Leicester appear ready to bring him in as back-up to first-choice Kasper Schmeichel.
Jakupovic will be following in the footsteps of Harry Maguire, who this week completed a big money move to the former Premier League champions.
Maguire came to the fore last season as Hull battled against relegation from the top flight, his efforts not enough to stop the club dropping into the Championship.
Hull fans, what do you think to this? Watford manager Marco Silva is also a fan of Swiss worldwide Jakupovic.
Jakupovic excelled in a 0-0 draw with Manchester United at Old Trafford in February, although Zlatan Ibrahimovic accused the goalkeeper of "making saves for the cameras". The 24-year-old has agreed to a five-year deal, which means he will be the English Premier League club till 2022.
Tyson Foods lobbyist shot is expected to make full recovery
A relative told 7 Action News that Mika suffered broken ribs, a sternum injury and some type of injury to his lungs. Mika is a former congressional staffer who now works at Tyson Food's director of government relations.
But Hull sources insisted yesterday they have received no bids for Jakupovic.
"The club will always confirm transfers if and when they are completed and announce via our official channels".
Jakupovic impressed during the 2016/17 season but could not stop the Tigers being relegated and has since been linked with moves away from the club, with BBC Radio Leicester claiming earlier on Friday that the Foxes were close to securing his signature.
Hull appointed former CSKA Moscow and Russian Federation boss Leonid Slutsky as their new head coach last week following Marco Silva's departure to take charge of Watford. Pennock left the KCOM in January in the wake of Mike Phelan's sacking.
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