The Algerian was in dazzling form, scoring an exquisite goal in the 46th minute, as the Foxes secured a penalty shoot-out victory against Celtic in their first of three matches in the pre-season International Champions Cup tournament.
Eoghan O’Connell’s tidy equaliser for the Scottish champions took the match to penalties in Glasgow but James Forrest’s miss allowed Daniel Amartey to win it for Ranieri’s men ahead of the trip to Los Angeles to face Paris Saint-Germain.
Reports in France suggest a £47m move to Arsenal could be on the cards for Mahrez but his manager is adamant that the former Le Havre winger, who joined Leicester for just £400,000 in 2014, is going nowhere.
“It is good because you can continue to write, write, write,” he told the written press after the match at Celtic Park.
“It is good for you but not for us. Did you see Riyad, how he is happy? He played well and worked so hard for the team and scored a good goal. Then he stays with us. Of course.
“For us, it is very important because he is one of our stars. He is our fantasy. We can work hard but with him, something change.
“With another team, there are many more stars and maybe he doesn’t play at the same level. Maybe, he go on the bench. It is much better he stay here with me and another year is important for him.
“Maybe, now (£47m), and maybe tomorrow, another newspaper says £100m. Keep going! Mahrez is okay with us. He understands that someone loves to put some speculation but it is only speculation.”