The 20-year-old Nigerian has agreed on personal terms with the Foxes. In the deal, Manchester City also agreed on a £50m buy-back clause with Leicester.
The striker who is currently in a dispute with his former management is expected to complete the move in the next 24 hours.Iheanacho joined Manchester City's academy at the start of 2014, before breaking through to the first team a year later. He made 46 appearances and scored a total number of 12 goals for the club.
