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Leicester have announced striker Marko Futacs has left the club after it was mutually agreed to cancel the remainder of his contract.
The Hungarian, who has been capped three times by his country, made just a handful of appearances for the Foxes during his two-year stint at the club and spent most of last season on loan at Diosgyori VTK, having previously been loaned to Blackpool.
It has been decided by both parties that he is surplus to requirements at the King Power Stadium and he becomes a free agent with immediate effect.
Leicester have agreed a deal to sign experienced defender Matthew Upson.
Upson turned down the offer of a new contract at Brighton in favour of a return to Barclays Premier League football, who this season ended their decade-long absence from the top flight by winning the Sky Bet Championship title.
He will sign a one-year deal on July 1 after his current contract with the Seagulls expires.
The 35-year-old played 47 games this season for Brighton, winning the club's player of the year award and helping them reach the play-offs where they were beaten by Derby.
Upson started his career at Luton and also played for Arsenal, Birmingham, West Ham and Stoke, before joining Brighton last summer after an initial loan spell.
Nigel Pearson's newly promoted Foxes have looked to the experience of former England centre-back Matthew Upson as they plan to stay in the top flight next season and beyond.
Leicester clinched the Sky Bet Championship title at the Reebok Stadium with Lloyd Dyer coming off the bench to net a fabulous winner in a 1-0 victory over Bolton.
The Foxes, who have maintained their position at the division's summit since before Christmas, were promoted earlier this month and, despite a heavy loss to Brighton, they immediately set their sights on securing silverware.