Liverpool have agreed a deal to sell defender Paul Konchesky to Leicester City.

The 30-year-old, who was signed from Fulham for £4m last August by Roy Hodgson, played just 18 matches for the club after struggling to settle. Hodgson's departure and Kenny Dalglish's arrival in early January effectively signalled the end of the left-back's Anfield career, as he was immediately loaned out to Nottingham Forest.

He returned to pre-season training with Liverpool but was told he was surplus to requirements and has now been moved on, for a reported fee of £1.5m.

A club statement confirmed: "Liverpool have today finalised a deal to sell Paul Konchesky to Leicester City. The 30-year-old will now join the Championship outfit for pre-season."

Konchesky's departure is likely to be the first of several as Dalglish looks to rebuild his squad.

Milan Jovanovic, who arrived on a free transfer from Standard Liege last summer, is expected to be the next to leave. The Serbia international started just one game under Dalglish and did not feature in the squad for the last three months of the season.

Several other fringe players also seem set to go with 31-year-old midfielder Christian Poulsen and Joe Cole, 30 in November – both signings from the short-lived Hodgson era – linked with moves away.

The striker David Ngog appears to be surplus to requirements now and has been interesting some Premier League rivals, while the future of up goalkeeper Brad Jones appears in doubt with Liverpool apparently close to bringing in Roma's Brazilian Alexander Doni as Jose Reina's deputy.

Leicester's manager, Sven-Goran Eriksson, said he was looking forward to working with Konchesky.

"Paul has been a Premier League player year in, year out throughout his career so he represents a very big signing for us. He wanted to come to Leicester and it means a lot that proven, established top-flight footballers want to be a part of what we are building here.

"I know Paul very well as a player and a person and he will be a top-class addition to our squad."