The newspaper claimed via their live transfer blog on Wednesday afternoon that Perez, 25, is set to be unveiled as the latest addition at the King Power Stadium before the end of the day.
It is understood that the Spanish attacker underwent a medical with Leicester on Wednesday morning and his five-year spell as a Newcastle player is all but over.
Mike Ashley appears to have taken the opportunity of having no manager in charge of the club to start selling players. Rafa Benitez would have more than likely stood in the way of this deal but with him now out of the way, Ashley is free to cash in on high-value players like Perez, even though he played a key role for the Magpies last season. Perez enjoyed his best season in black and white stripes last term as he finished as the club’s top goalscorer by netting 13 times in 41 appearances across all competitions. Although he had been fairly inconsistent for the Magpies up until last term, there was a feeling that Perez had finally come good and established himself as a proven Premier League player. Newcastle fans will now have to watch the Spanish ace blossom at top-flight rivals Leicester, a team who are at a place in the league where the Magpies should be aspiring to be. Perez cannot be blamed for leaving the St James’ Park circus, but hopefully he doesn’t come back to bite his former club when he’s playing for Leicester next season.