The 21-year-old was part of the Clarets side that saw their relegation from the Premier League confirmed on the final day of the 2021-22 season following a 2-1 defeat to Newcastle United.
As a result of their drop to the Championship, Burnley are facing a battle to keep the Republic of Ireland international according to Football Insider, who report that both Newcastle and Leeds view Collins as someone with plenty of potential.
Following his move from Stoke City for around £12m in July 2021, Collins initially struggled to break into the side ahead of the experienced duo of James Tarkowski and Ben Mee at Turf Moor.
However, following injury problems for the pair, Collins went on to make 19 Premier League appearances in the end, including starts in each of Burnley's final 10 games of the season.
Collins still has three years to run on the four-year contract signed with Burnley last summer, meaning the Clarets find themselves in a strong bargaining position in any potential interest from the likes of Newcastle and Leeds in the coming months.
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