Brendan Rodgers hopes to give a debut to Danish central defender Jannik Vestergaard this weekend.
Vestergaard was in Leicester on Thursday for a medical after a £15million fee was agreed with Southampton.
The stopper made 32 appearances in all competitions for Saints last season but has just one year left on his contract.
Rodgers has made his move after French starlet Wesley Fofana, 20, was ruled out until 2022 following a broken leg and ligament damage in a challenge by Villarreal forward Fer Nino in a pre-season friendly.
Fofana joins veteran Jonny Evans, who has a foot injury, on the sidelines forcing Leicester to act.
Rodgers, whose side host Wolves on Saturday, admitted: "Clearly there has been contact by the clubs. There has been nothing finalised.
Jannik Vestergaard could make his debut this weekend when the Foxes host Wolves at the King Power ( Image:
Naomi Baker/POOL/EPA-EFE/REX/Shutterstock)
"But hopefully we will be able to confirm that. We have permission from them for him to be here.
"Then we will see if he is available for the weekend. It was pretty clear we needed a centre-half, we were very light in the area."
The Denmark centre-back was previously subject of interest from Leicester in January 2020.
He has played alongside Kasper Schmeichel for Denmark and Ryan Bertrand at Southampton previously.
Rodgers now looks set to finally land Vestergaard after losing Fofana, who went under the knife this week.
Rodgers added: "He has had the operation. It has gone very well. He is in good spirits.
"We look forward to seeing him in a few days when he can come in."
Despite the loss of Fofana, Rodgers says his side are buzzing ahead of the opening weekend after defeating Manchester City 1-0 to win the Community Shield.
"It sets us up nicely for the weekend," said Rodgers, who has confirmed Schmeichel as captain and Evans as vice-captain after Wes Morgan retired. "We are ready for another long but exciting season."
Meanwhile, Leicester's Algerian winger Rachid Ghezzal is expected to complete his move to Besiktas.
Belgium attacking midfielder Dennis Praet could also potentially be let go this month along with Hamza Choudhury.
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