Kasper Schmeichel has made 200 league appearances for Leicester. Richard Heathcote/Getty Images

Leicester City goalkeeper Kasper Schmeichel has agreed a new five-year deal to stay at the King Power Stadium, sources close to the club have told ESPN FC.

A source told ESPN FC in June that Leicester had opened talks with Schmeichel with a view to securing his long-term future and rewarding him for his role in the club's stunning Premier League success.

Schmeichel was one of Leicester's star performers in their unlikely 2015-16 Premier League title success, playing every minute of the campaign and keeping 15 clean sheets in the process.

Everton have been credited with an interest in making a move for Schmeichel as they look to bring in a new No. 1 keeper to replace Tim Howard, but they will now have to look elsewhere with Schmeichel on the verge of signing a new deal at Leicester.

Leicester have been keen to keep hold of their best players after losing N'Golo Kante to Chelsea this summer, and Jamie Vardy has already signed a new deal after turning down a possible move to Arsenal.

Schmeichel is expected to sign a new long-term deal at Leicester which will bring him in line with the club's other top earners.