Craig Shakespeare
Craig Shakespeare has been rewarded for guiding Leicester to Premier League safety ANTHONY DEVLIN/AFP/Getty Images

Leicester City have finally confirmed that Craig Shakespeare will remain in his current post as first-team manager on a permanent basis beyond the summer. The 53-year-old has put pen to paper on a three-year deal after guiding the 2015-16 champions to Premier League survival last term.

Reports now suggest the Foxes will now focus their efforts on signing reported Everton target Gylfi Sigurdsson from Swansea City; their primary target this summer who they are prepared to make their highest earner.

A former assistant to Nigel Pearson and Claudio Ranieri, Shakespeare was named as interim boss until the end of the season in March after winning each of his two matches in caretaker charge following the latter's dismissal just nine months removed from that fairytale title triumph.

With struggling Leicester hovering precariously one point above the relegation zone at the time of Ranieri's sacking, Shakespeare led the Foxes to a safe 12th-place finish courtesy of seven victories in their final 13 top-flight matches.

In addition to joining Manuel Pellegrini, Sven-Goran Eriksson and Carlo Ancelotti as only the fourth Premier League manager ever to win their first five home matches, the ex-Walsall, Sheffield Wednesday, Grimsby Town and Scunthorpe United midfielder, a former caretaker at West Bromwich Albion and right-hand man to Pearson at Hull City, also took Leicester past Sevilla and into the quarter-finals of the Champions League. Such an incredible journey ended with a narrow 2-1 aggregate defeat to Atletico Madrid.

"This is a really exciting opportunity for me to continue along this new path in my career and to continue to work with a club and a group of staff I've grown extremely close to," Shakespeare said. "I'm grateful to the owners and the Board of Directors for their continued faith and support.

"Our preparations for pre-season and the new Premier League campaign have been ongoing for some time, but we can now move on with certainty and ensure we are well equipped to compete at the levels now expected of a club like Leicester City."

Vice-chairman Aiyawatt Srivaddhanaprabha added: "Craig has shown all the qualities in leadership, motivation and talent management that are required to be successful in this role. Those qualities, aligned with his first class coaching acumen, his knowledge of Leicester City and its philosophy, and the respect he has earned at every level of the Club make him the ideal choice to help take us forward.

"Our primary objective for the coming years is to successfully translate the extraordinary experiences of the last two seasons into lessons that will strengthen and enhance the Club's pursuit of its long-term vision of sustainable success. Continuity is among the key elements to making such a process work."

With Shakespeare's future resolved, Leicester will now shift their attention to strengthening their squad with Sigurdsson understood to be top of their wishlist. According to the Daily Telegraph, the Iceland international will set the club back £30m, although Everton remain hopeful of striking a deal.