Heskey began his career with the Foxes with a bang before going on to play for the likes of Liverpool, Birmingham City and Wigan.
The Villa man was wanted by Eriksson, who has been splashing the cash during the close season, however, it seems he is staying put.
The Swede spoke with the 33-year-old a month ago, although the ex-England man told City's manager that he may be open to rejoining in the 2012-13 campaign.
"I spoke to Emile Heskey a month ago and asked him if he wanted to come to us and the answer was 'not for now, maybe next season'," revealed Eriksson.
Source: Team Talk
Source: Team Talk