Schmeichel joins Nice after 11 historic seasons with Leicester
The goalkeeper, who relinquishes the captaincy with his exit, amassed almost 500 appearances over 11 years with the Foxes, winning the Premier League, FA Cup, Community Shield, and Championship title over that time.
Schmeichel, 35, moved to Nice for a £1-million fee, according to The Guardian's Fabrizio Romano. He agreed to a three-year contract with the French club.
"It's clear to everyone who has watched him perform that Kasper has given everything to Leicester City every time he has played, and the experiences shared between him, the club, and our supporters over the last 11 years mean he will always remain a part of this family," said Leicester chairman Aiyawatt Srivaddhanaprabha.
Leicester will now be searching for a new No. 1 ahead of their Premier League season opener against Brentford on Sunday. Backup goalkeeper Eldin Jakupovic also left the club this summer, leaving Danny Ward or Daniel Iversen to compete for shot-stopping duties.