Nigel Pearson has insisted that Leicester City are not going to be spending millions to bring in new players during this summer's transfer window.

The Foxes secured their Premier League survival with a draw with Sunderland at the weekend, despite spending much of the season in the relegation zone.

The manager told the Leicester Mercury: "I don't know what people's perceptions are, but I recognise that it is a potential problem. We are not all of a sudden going to start spending £25m, £35m, £40m and wages on a player. It doesn't happen.

"We may do one day but we have a good idea where we are at, we know the types of players we are looking for. You only have to look at some of the situations at other clubs where you can actually point out how they have tried to do it in a different way and it doesn't always work out. We have wealthy owners but they are very clever, astute business people.

"We have identified players we would like to bring to the football club who will enhance what we have got at the club, and we will be working hard to bring those players in. Whether they meet the expectation of what the public want, I don't know what people's expectations are. We will try to strengthen in a way that makes us better than we are now, makes us able to compete more vigorously and allows us to perform more evenly over a season."

Leicester signed Leonardo Ulloa from Brighton & Hove Albion for a club-record £8m last summer.