Leicester signed Wales goalkeeper Danny Ward from Liverpool on a four-year contract on Friday.
Ward dropped in the pecking order at Anfield following the arrival of Brazil goalie Alisson.
Leicester's fourth signing of the offseason will offer competition to Kasper Schmeichel and Eldin Jakupovic.
Ward will join the team on Monday for a training camp in Austria.
"I've come here to develop my allround game and hopefully help deliver some more success," he said.
BOUFAL LOANED TO CELTA VIGO
Southampton winger Sofiane Boufal was sent to Spanish club Celta Vigo on a season-long loan.
Boufal came to Southampton in 2016 from Lille, and made 59 appearances, scoring four times.
The Moroccan fell out of favor with manager Mark Hughes at the end of last season.