Esteban Cambiasso confirms Leicester City departure

The Argentine midfielder was one of the key figures in the Foxes' remarkable escape from relegation last season but has now rejected the chance to stay after his one-year contract expired.

Best known for his decade-long spell at Inter Milan, where he won five Serie A titles, four Coppa Italia trophies and the Champions League in 2010, Cambiasso brought an extra level of quality and control to the Leicester midfield.

New Foxes manager Claudio Ranieri, who coached Cambiasso at Inter during the 2011-12 season, was hoping to persuade the 34-year-old to extend his spell at the club.

Cambiasso has made it clear that he will not be taking up the offer, however, confirming his exit in an official statement.

"I would like to announce that I have decided not to renew my contract with Leicester City," he said.

"I have taken this decision only 24 hours after receiving [a new contract offer] from Leicester because I want to give the club as much time as possible to find an alternative.

"I would like to thank all the fans who last season made me feel proud to be part of a club with an unforgettable spirit and energy.

"And a very special thanks to all my team-mates, staff and every member of the club, with whom I have lived one of the most important years of my career, crowned with the remaining EPL status.

"Many thanks to everyone, keeping you all forever in my heart."