It is understood the Blues have the Leicester City defender high on their radar as they plot their summer recruitment plans.
But Kenny Jackett's men will also face competition from Peterborough, following Knight's impressive loan spell at London Road this season.
Pompey will need to bolster their centre-back options, with Christian Burgess set to depart the club after the League One play-off campaign.
Knight is one player who’s been identified, with Jackett keen on a potential loan move for next term.
The 22-year-old has returned to Leicester after spending the past one-and-a-half campaigns at third-tier rivals Posh.
Knight first joined Peterborough on loan in January 2019 and made eight appearances during his first taste of senior football.
He returned to the club last summer and was a key player for Darren Ferguson’s side when fit.
Knight featured 26 times and scored three goals as Peterborough’s promotion push fell short after the season was curtailed amid the coronavirus crisis.
His final outing was in his side’s 2-0 win over Pompey before the shutdown of football in March.
The Posh also made a bid to sign him on a permanent basis during the January transfer window but it was rebuffed by Leicester.
Knight has now returned to his parent club, although Ferguson keen to bring him back again to London Road.
However, the attraction of Championship football should Pompey be promoted will give Jackett more leverage in the race for the centre-half’s signature.
The centre-back is yet to feature in the second tier during his career and it would be a step in the right direction.
Knight, who can also operate as a defensive midfielder, has a year remaining on his King Power Stadium deal. He’s made just a solitary first-team appearance for the Foxes – a 4-1 EFL Cup win over Sheffield United in 2017.
Pompey will be in the market for at least one central defender during the summer transfer window.
Fans’ favourite Burgess has already agreed to join Belgian side Royale Union Saint-Gilloise, although he’s been given the green light to feature in the play-offs.
Sean Raggett is also available to face Oxford next week after extending his deal, but his loan from Norwich will expire come the end of the Blues’ campaign.
Meanwhile, Jack Whatmough and Paul Downing remain under contract, although the latter has been firmly out of favour since arriving from Blackburn last summer.
Youngster Matt Casey is to be released at the end of the season, despite having signed a short-term extension in case he’s needed for the play-offs.