Speaking during the India-England Test match at Old Trafford, Boycott said the county had "pinched our Yorkshire king".
The 73-year-old former England batsman went on to say he should be returned to Yorkshire.
But Jonathan Agnew, commentating with him, stuck up for Leicestershire, the county where he lives.
The pair were speaking during the Fourth Test between England and India at Old Trafford, shortly before the eighth wicket fell yesterday.
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"Your lot pinched our king, our Yorkshire king. Your lot in Leicestershire where you live," he claimed.
But Agnew, a former Leicestershire cricketer, defended the decision saying: "I don't think so, he died there, poor chap."
To which Boycott responded: "Well then, send him back. He's king of Yorkshire not Leicestershire."
He went on to claim Leicester only wanted to keep the body to attract money to the city.
The discussion was only brought to an end when Indian paceman Bhuvneshwar Kumar was run out.
His death at the age of 32 in the battle of Bosworth, near Leicester, in 1485 effectively ended the Wars of the Roses.
His remains were discovered under a car park in Leicester in 2012 and later confirmed to be his after a DNA test.
Distant relatives of the king contested the decision to reinter his remains in Leicester Cathedral, claiming he would have wanted to be buried in Yorkshire, where he lived for several years as a child.