I guess my thought is this - Champions League play is but a single enticement (However big it is). What else could Leicester offer which could make up for the lack of it to be competitive in the pursuit of players of this caliber? What about the confidence that he'd be the starting 8 on a team of peers (vs older pros)? World class facilities? Leicester's proven no obstacle to playing for one's national team - how many internationals do we have these days? He's only 21 it doesn't have to be the final stop either.
I completely concede there's a hierarchy and you can name on one hand the clubs that don't get players poached, but there's a human element of this I don't think we should entirely discount. Whatever you think of it now, I'm pretty sure the fact that his friend Wilf was here was part of the reason Kelechi chose us over the other suitors. You'll never convince me that Slimani wasn't brought in to appease Mahrez a bit and entice him to stay after the title win. A supportive, happy team environment has to go a long way and if he's enjoying his football then we should think we have at least as good a shot as anyone. It's Brodge's job to butter him and convince him to stay.