Vaclav Kadlec would be amazing signing. Leicester are a stronger team than people make out. Probably a right on loan like Rafael / Kyle Walker / Kyle Naughton / Seamus Coleman. George Elokobi for left back is quality. Danny Wilson from Liverpool i got for £4m. Partner him with Hobbs and theres a solid base.
In midfield i had Gallagher (scores and assists loads) right wing and Lloyd Dyer on the left. Andy King + any holding player you can get hold of. Sebestien Blanco (£6m ish) Diego Arismendi from Stoke.
Upfront, Fryatt, Vassell, Howard, Waghorn all get a good amount of goals in first year. Id suggest just bringing in someone on a loan deal. 2nd season get Yaya Sanogo (i had him lone striker, pace,pace,pace), Andy Carroll is available on a free. Kiko Macheda is dangerous in the Championship.
Hope this helps mate.