Leicester have finally made a breakthrough in negotiations with Manchester City and agreed a deal in principle worth £25m, reports The Daily Telegraph.
Iheanacho dropped down the pecking order under Pep Guardiola last season and the arrival of Gabriel Jesus at the start of the year has ensured he needs to leave for regular first-team football.
The Foxes have been in advanced talks with City for the majority of the summer but a potential deal was held up by a row over image rights with his former agent, which has now been resolved.
Iheanacho is now poised to complete his Leicester medical on Tuesday before a deal can be made official by the start of the weekend. City have also inserted a buy-back clause into their deal with the Foxes in case they want to re-sign their academy product in the future.
Of players that have scored at least 10 Premier League goals in the last two seasons, Iheanacho has required the fewest minutes per goal (1 every 106.5 minutes of action).
