The 31 year-old has an option for a third year after being released by the English Premier League winners and indeed are close to finalising terms as they prepare for a season in both the EPL and the Europa League.
The former England international is set to have a medical later in the week for the tigers with the player not being offered a new contract to remain at the Sky Blue club.
There was several teams interested in Lescott with the likes of Aston Villa and West Ham United plus Schalke and UAE club Al Ain also showing their interests in the 26 time international.
Lescott joined Manchester City in the summer of 2009 for a fee of around 25 million pounds and made just 10 Premier League appearances last season.