• Faiq Jefri Bolkiah to move to King Power Stadium at end of season • 17-year-old has been at Chelsea since 2014

This article is more than 4 years old

This article is more than 4 years old

Leicester City have signed the nephew of the Sultan of Brunei, one of the world’s richest men.

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Faiq Jefri Bolkiah, a 17-year-old winger who has been at Chelsea since 2014 after earlier spells with Arsenal and Reading, has signed a three-year contract with the Premier League leaders and will complete his move in the summer.

Bolkiah wrote on Instagram: “Happy to announce I have signed a long term professional contract at @lcfc. Would like to thank all my family and close friends for all the support. Was also a pleasure meeting the owner himself. Can’t wait to get started.”

Bolkiah has been a regular for Chelsea’s under-18 side this season but will move to the King Power Stadium in search of first-team opportunities. His uncle, Sultan Hassanal Bolkiah, was estimated to have a peak net worth of $20bn in 2008.