Leicester have agreed to pay a settlement of £3.1million to the English Football League after the club were found to have breached Financial Fair Play (FFP) rules in 2013/14.
The Foxes exceeded the permitted £8million loss in their Championship-winning campaign but vowed to legally challenge the charge after claiming £13million of the £20.8million deficit was "allowable".
In announcing the settlement, the EFL acknowledged that the club did not make a deliberate attempt to infringe the rules and instead had misinterpreted them.
"The agreed settlement of £3,100,000 is in full and final settlement of all and any claims by the EFL against the club and its officers, in respect of the FFP regulations for season 2013/14," the league's statement said.
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Leicester striker Jamie Vardy has played down reports linking him with a move away from the club.
The 31-year-old, who in the summer of 2016 turned down the chance to join Arsenal, has this month been linked with Everton and reigning Premier League champions Chelsea.
Chelsea are known to be looking for another striker as Blues boss Antonio Conte wants to ease the burden on Alvaro Morata.
But ahead of Leicester's FA Cup fourth-round tie away at League One side Peterborough on Saturday Vardy insists he is committed to the Foxes.
When asked about the speculation, he said: "Who have I been linked with today? Chelsea, they've been linked with everybody haven't they?
"You just have to take things like this with a pinch of salt, it's just rumours. Usually it all gets started by someone throwing a few quid on it at the bookies.
"I'm a Leicester player and I'm just concentrating on Leicester until the club tell me otherwise and we will be looking to progress to the next round of the cup."
Leicester's only signing this month has been Fousseni Diabate and the 22-year-old midfielder, who moved to the King Power Stadium from French Ligue 2 club Gazelec Ajaccio, could make his debut against Peterborough.
Leicester City's Jamie Vardy and Harry Maguire, and West Bromwich Albion's Jake Livermore are in the starting XI for England's friendly game at Wembley against Germany tonight.
- Leicester 2-0 Everton
- Leicester 2-0 Everton
Here's what the new manager had to say at his first press conference - ahead of Leicester's clash with Everton on Sunday.
The new manager of Leicester City says he wants to help deliver further lasting success at the club.
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Leicester City defender Harry Maguire says he's "disappointed" that manager Craig Shakespeare has been sacked.
The 24-year-old was signed by Shakespeare in the summer for £17 million.
He added that Shakespeare was a "great man and great coach".