Leicester City have confirmed the appointment of Craig Shakespeare, but Bookmakers are not convinced that he will be bringing silverware to the King Power Stadium.

The 53-year-old was handed the job on a temporary basis in February after the club controversially axed Claudio Ranieri – who won the title the year before.

But Shakespeare more than delivered during his tenure, winning eight of his 16 games in charge last season, leading the club to the Champions League quarter-finals.

“This is a really exciting opportunity for me to continue along this new path in my career,” said Shakespeare.

“Our preparations for pre-season and the new Premier League campaign have been ongoing for some time, but we can now move on with certainty and ensure we are well equipped to compete at the levels now expected of a club like Leicester City.”

Bookmakers, though, believe that Shakespeare will be lucky to see out his three-year deal.

The former caretaker is 6/1 with bet365 to see out the duration of the contract with his side 200/1 to win the forthcoming Premier League title race – just like they did the season before last, with Shakespeare as assistant manager.

They are also 10/1 to win silverware during the initial three-year contract.

Bet365’s Steve Freeth said: “Shakespeare steadied the ship and impressed when Ranieri departed, but three years is a long time in the dugout these days, hence the 6/1 price.

“However, it wouldn’t be the first time we’ve got a Foxes market spectacularly wrong!”