The move will go down as one of the biggest bargains in English football history, but could Vardy have been plying his trade in Scotland?
Celtic were linked strongly with Vardy back in 2011, with their interest catching the attention Fleetwood boss at the time Micky Mellon.
Mellon told The Scottish Sun: "I heard Celtic were looking at Vardy. I’m not surprised. So they should be because he’s a good player. In fact, he’s a very good player.
“If Celtic are doing their homework and looking for the best young players in England then Vardy’s one of them. You would expect that."
Mellon went onto add that Celtic had not been in contact for the striker, now an England international, commenting: "Until we get that phone call and decide to ask what Vardy wants to do and he wants to go then we’ll get on with it."
The phone call never came, not from Celtic at least. Jamie Vardu remained at Fleetwood another year before clinching his big move.
He helped Leicester gain promotion to the Premier League, and incredibly, went on to win it this season, against the odds.
The 29-year-old has scored 22 goals in 34 games for the Foxes, and surely would have been a prolific striker north of the border too.
For just £1 million, he is bargain the club will regret not taking, despite their success domestically, and now he will get a chance to show what he can do in the Champions League next season.