The 31-year-old Dane has penned a new deal worth £120,000 a week with bonuses which will keep him at the King Power Stadium until June 2023.
Schmeichel’s commitment to the cause has completed a hat-trick of signings for the Foxes in recent days, following hard on the heels of Vardy’s new four-year-contract which set a new bench mark for the ambitious 2016 title winners.
Wilfred Ndidi tied himself to Leicester on a new six-year deal this week as the club’s Thai owners made a clear statement of intent that Riyad Mahrez’s £60million move to Manchester City this summer was a one-off.
England World Cup hero Harry Maguire will be the next Fox to tie up a lucrative new deal worth around £80,000 a week to mark his new-found status at international level.
The bold moves to tie down Leicester’s biggest asset, coupled with £100million worth of investment in the summer transfer market makes a mockery of suggestions manager Claude Puel is fighting for his life as Leicester boss.
The opposite is the case as the Frenchman has been trusted with building a solid framework for the future.
Vardy and Schmeichel’s new deals are seen as part of Puel’s blueprint for the future as he looks to combine title-winning experience with a new generation of precocious young talent.
Schmeichel is a key component in that vision, having made 298 appearances since signing from Leeds United in June 2011.
The 2016 title winner has been linked with big money moves to Liverpool and Chelsea recently but speaking to the club’s website, the Dane said: “I’m very happy to be here for many more years.
“I’ve spent the majority of my career at Leicester now and had some amazing times here, so hopefully we’ll have some more.
“I’ve felt at home at this Club from day one, so I’d like to thank the fans for the support they’ve given me and also the owners who’ve played a huge part in my career.
“I want to bring more success to this Club as I’ve loved every minute and hopefully we can keep going in the right direction.”
Meanwhile, Leicester’s Polish midfielder Bartosz Kapustka will join Belgian side OH Leuven on loan for the remainder of the 2018/19 season.
The 21-year-old Polish international joined the Foxes from Cracovia after impressing for his national side at Euro 2016.
However he has failed to break into the Foxes first team and has been sent to the club’s sister club, which is managed by former Foxes boss Nigel Pearson to continue his development.
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