The 27-year-old is a popular figure with the Swansea City supporters, though he has found himself out of favour with boss Garry Monk, making just one substitute appearance so far this season.
As such, the Swans have allowed him to go out on loan and Leicester won the race for his signature, sealing a surprise season-long loan deal late on deadline day.
Merson believes the Foxes have pulled off a real coup in bringing Dyer to the King Power Stadium, hailing the winger as an intelligent player and one who would easily get in either Liverpool or Tottenham’s team.
“Leicester pulled off one of the absolute coups of the transfer window for me by getting Nathan Dyer,” he told the Daily Star.
“I still can’t believe no one else went for him. I like him. He is intelligent, quick, makes good runs and scores goals. He is an absolute steal.”
“A lot of teams will be looking at that thinking, ‘I didn’t know he was available!’ He would walk into the Tottenham or Liverpool teams.”
Did Tottenham miss a trick by not attempting to bring in Nathan Dyer?
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As per the table above provided by Opta Stats, Dyer doesn’t compare particularly favourably with Tottenham’s current attacking quartet in a number of key areas throughout the previous campaign.
Moreover, the former Southampton man scored just three goals and averaged fewer chances than all four of Spurs’ attacking players, posting an average of just 0.69 per match.
Still, the diminutive winger does have certain qualities and his experience of the top-flight will be a big plus to Leicester as the East Midlands outfit look to establish themselves as a solid Premier League outfit.