"This is a Club which has been such a huge part of my life already and it is an honour to be asked to return," Lennon told the official Celtic website.

“I have given everything to Celtic as a player and manager already in my career and I am ready to do the same again. I will be doing all I can to continue the great work that has gone on in recent years.

“I am returning to one of the biggest and best clubs in world football and I can’t wait to get started.”

Image source, SNS

Celtic chairman Ian Bankier: “Of course we are hugely disappointed to be losing a manager who has made such a fantastic contribution to the club and, while we have done everything to keep him at Celtic, this is an opportunity within the English Premier League which he wanted to take.

“We were delighted to bring such a talented manager to Celtic and are pleased to have worked with Brendan for nearly three years.

"He, our backroom staff and our players have delivered phenomenal success to the club and he leaves a fantastic legacy which we will always cherish.”

Leicester City vice-chairman Aiyawatt Srivaddhanaprabha said in a statement: “I’m absolutely delighted to bring a manager of Brendan’s calibre to Leicester City and I look forward to seeing what he, our talented, young squad and our dedicated, skilled team of staff can achieve together.“As projects, including the development of our new training ground and the proposed expansion of King Power Stadium continue to take shape, and as a young squad of great potential begins to mature, Brendan and his colleagues arrive at an exciting time for Leicester City.

"We’re continuing to grow as a club and I am anticipating that Brendan’s coaching methods, knowledge and experience can enhance our journey.”

Celtic say they are "extremely disappointed" to be losing Brendan Rodgers and point out that Leicester wanted to make the appointment now rather the summer.

Chief executive Peter Lawwell tells the club website: “Brendan is a football manager of the highest quality and we are very disappointed to see him leave the club.

"This is an opportunity he wished to pursue and that is something we have to respect.

“He gave the club so much and has created so many wonderful memories for the club and our supporters. His achievements are historic."

Brendan Rodgers' move to Leicester is a chance for him to restore his dented reputation in England, writes Phil McNulty.

Neil Lennon has been confirmed as Celtic's interim manager, after Brendan Rodgers completed his move to Leicester City.

Phil McNulty
BBC Sport chief football writer

Image source, Getty Images

For Brendan Rodgers, there must always have been the temptation to go back to unfinished business in the Premier League, demonstrate his development among the elite once more and show he is still the man who was praised as a tactical innovator and bright, modern young manager at Swansea City, earning his ticket to Anfield.

He is not at the stage where he would be seriously considered for a top-six job - so as shots at Premier League redemption go, this is a great chance to prove his worth once more.

Leicester City

New Leicester manager Brendan Rodgers:“I’m very privileged and honoured to be here as Leicester City manager and I’ll give my life to make the supporters proud of their club.

"Together, we’ll be stronger and I’m looking forward to working with the players, staff and supporters to make the right steps forward.”

Chris McLaughlin
BBC Sport Scotland

Celtic have also now confirmed that Brendan Rodgers has left to join Leicester....

More to follow.

Brendan Rodgers confirmed as Leicester City manager.

Tom English
BBC Scotland's chief sports writer

Scottish hammer thrower - and Celtic fan - Chris Bennett was at Leicester's game with Crystal Palace on Saturday night.

Derek Ferguson
Former Rangers and Hamilton midfielder on Sportsound

It appears that the official Celtic website has jumped the gun by posting a story confirming Neil Lennon's appointment.

However, the statement, with quotes from Lennon himself, was quickly withdrawn.

Pat Bonner
Former Celtic goalkeeper on BBC Sportsound

You can now hear more about the situation at Celtic and Leicester on Sportsound, which has just started on BBC Radio Scotland 810MW.

Here's a reminder of where we're at...

We are poised for possible announcements from Leicester and Celtic...You would imagine that neither would want to keep the situation hanging overnight.

Meanwhile, Leicester are preparing to face Brighton & Hove Albion tonight...

One member of the Celtic squad who might be pleased to see the back of Brendan Rodgers and the return of Neil Lennon is Scott Allan.

But he might also be cursing his luck.

The midfielder was an integral part of Lennon's Hibs squad last season on loan from Celtic.

However, he hasn't kicked a first-team ball this season on his return to the Glasgow club and Lennon failed in his efforts to sign him permanently or on loan during January when still at Easter Road.

However, Lennon's return to Celtic has come too late to prolong Allan's stay as the 27-year-old eventually signed a pre-contract agreement to join Hibs this summer before Lennon exited as their head coach.

Image source, SNS