Derby County has completed the signing of Tom Lawrence from Leicester City for a fee that could reportedly rise to £7 million ($11.5 million).

The 23-year-old has agreed a "long-term contract" with the Championship club and is its fourth signing of the transfer window, coming after the arrivals of Curtis Davies, Andre Wisdom and Tom Huddlestone.

Derby confirmed that he would not be available for Wednesday's (AEST) clash with Preston North End but could make his debut away to Bolton Wanderers on Sunday (AEST).

Manager Gary Rowett said: "Tom was our number-one target in that position and he had a fantastic season at Ipswich last year.

"It has taken a lot of energy to get this transfer done and, to be honest, I don't think people realise how difficult these transfers are to do.

"This one has taken the best part of two months to get over the line. We have been in daily contact with his agent, Leicester City and various people.

"We have beaten some good teams to getting his signature as well, so we're really pleased about that."

Lawrence, a graduate of Manchester United's academy, joined Leicester in 2014 but has spent the last three seasons on loan with Rotherham United, Blackburn Rovers, Cardiff City and Ipswich Town.

The Wales international winger only made four appearances for the Foxes in total.