Leicester have agreed a deal to sign midfielder Vicente Iborra from Sevilla, according to the Spanish club.
Sevilla added that the move for the Spaniard is subject to a medical and personal terms being agreed.
Iborra, 29, moved to Sevilla from Levante in 2013 and helped them win three successive Europa League titles.
He played against Leicester in both legs of the Champions League last season when the Foxes knocked out the La Liga side in last-16 tie.
Iborra was captain of Sevilla last season and, in total, made 172 appearances, scoring 30 goals.
Reports in Spain say the fee is likely to be in the region of 12 million euros (£10.5m)
The defensive midfielder has been allowed to leave after the club re-signed Ever Banega from Inter Milan.
“Iborra has shown exemplary behaviour in his time at the club and has won the unanimous respect and love of all Sevilla fans,” said a Sevilla statement.
“His achievements with the club are colossal but he will also be remembered for his leadership on and off the pitch, and for the dignity with which he wore the captain’s armband.”