Leicester City have quickly agreed to put a buy-back clause for Manchester City which will cost £50m.
Iheanacho on Tuesday, August 1 had his medicals ahead of a £25m move to Leicester City.
Although the striker agreed personal terms with Leicester City some few weeks ago, the move had stalled due to a disagreement over a buy-back clause for Manchester City and a legal tussle with the player and his former management Eleven Management.
With his battle with Eleven Management settled, Leicester City quickly agreed to put a buy-back clause for Manchester City which will cost £50m.
Manchester City have high hopes in Iheanacho who graduated from their academy and insisted on a buy-back clause so they can get him back if he impresses at Leicester City.
Although Leicester had concerns about a buy-back clause for a fixed amount, they finally agreed on a price of £50m with Manchester City.
Leicester City beat the likes of Tottenham, West Ham and Monaco to the signing of the 20-year-old and are happy with the buy-back clause which would see them get double the amount they pay for him.
The 2016 Premier League champions are looking to complete Iheanacho’s signing in 24 hours.
Leicester City boss Craig Shakespeare is hoping Iheanacho will be available for their opening day trip to Arsenal on Friday, August 11.