Leicester have sealed the £500,000 signing of Matt Oakley from local rivals Derby County.
The midfielder was the club captain at the struggling Rams and had played in 19 of their Premier League games to date.
But with a whole host of new faces arriving at Pride Park in the last week Derby boss Paul Jewell has decided to let Oakley go.
Oakley becomes Ian Holloway's sixth signing during the transfer window and goes straight into the squad for the Foxes' home clash with Coventry on Saturday.
"This is a fantastic signing for this football club," said Holloway.
"Matt is a player with tremendous ability and I am chuffed to bits that we have been able to bring him here."
Jewell also had some kind words for the departing Oakley and admitted that he was disappointed to be losing him.
"He has been an excellent pro during my time here and a superb skipper," said the Rams manager.
"I didn't want to lose Matt but I never believe you should stand in the way of a player when a good offer comes their way and I think this deal benefits both Derby County and the player."