The ex-Rangers head coach, widely regarded as one of the club’s poorest head coaches, is preparing for a League One challenge with the Foxes.
Despite his struggles at Ibrox, Martin’s reputation remains strong in England, having previously led Southampton, MK Dons, and Swansea City.
The 40-year-old is reportedly planning to recruit two Ibrox staff members for his new role at the King Power stadium.
He aims to bring in Rhys Owen, head of sport science, and assistant Matt Gill, who have both worked with Martin at his previous clubs.
Owen has been a consistent presence in Martin’s career, having collaborated at Swansea and Saints in 2023, before joining him in Glasgow.
Head coach Danny Rohl has been benefiting from Owen’s expertise since Martin departed.
His move to Leicester City might require persuasive efforts from Martin.