Craig Shakespeare took over as interim boss at Leicester in February. Oli Scarff/AFP/Getty Images

Craig Shakespeare is set to be handed the Leicester City job on a permanent basis, sources close to the club have told ESPN FC.

The former Leicester assistant manager took over as interim boss after Claudio Ranieri's exit in February and steered the club from within a point of the relegation zone to safety in the Premier League.

Leicester won eight out of their 16 games with Shakespeare in charge as the 2015-16 champions finished in 12th spot last season and also reached the quarterfinals of the Champions League before losing to Atletico Madrid.

Shakespeare has won support from a number of the Leicester players calling for him to be handed the job on a permanent basis after impressing during his role as caretaker manager.

Leicester's hierarchy undertook an end-of-season review following the final game of the season last month, and after considering their options they have decided Shakespeare is the right man to take the club forward.

The club's owners were impressed at how Shakespeare led the side during a difficult period after a disastrous Premier League title defence which saw them flirt with relegation.

Talks between both parties have been ongoing for the last few weeks and the club are expected to confirm Shakespeare's appointment on a full-time basis soon so that he can plan ahead for next season.