Leicester next manager news: Foxes 'agree compensation fee' for new head coach

Leicester City have reportedly agreed compensation with Queens Park Rangers for Marti Cifuentes.

The Foxes are closing in on the signing of a new head coach, with the Spaniard supposedly set to take a pay cut in order to join the King Power Stadium club.

Relegated from the Premier League in May, Leicester are now on a mission to enjoy an immediate return to the top flight from the Championship.

However, the East Midlands outfit are not the favourites for promotion, with the likes of Ipswich Town, Southampton and Birmingham City backed by the bookmakers.

Leicester could be hit with a points deduction due to alleged breaches of Profit and Sustainability Rules (PSR) over the past few years.

Leicester agree Cifuentes compensation?

According to journalist Rob Dorsett, Leicester have taken another step towards appointing their Ruud van Nistelrooy successor.

The report claims that the Foxes have agreed a compensation fee with the 43-year-old's former club QPR ahead of the new season.

It is understood that the R's will receive £500,000 for the deal, half of which is supposedly set to be paid by Cifuentes personally.

With an agreement in place between Leicester and the head coach, the two parties are now awaiting the processing of his visa.

The Foxes commence their Championship promotion charge with the hosting of crisis-hit Sheffield Wednesday on August 10.

Cifuentes given the gig

After two impressive years at QPR, Cifuentes is preparing to take the reins at Leicester, where Premier League football is an expectation at this stage in their history following title success in 2015-16.

The Foxes had a number of more experienced options on their shortlist, including Sean Dyche and Chris Wilder.

It remains to be seen whether Leicester will regret going for a boss who has never been involved in a Championship promotion battle. 

Written by
Carter White