[COYG]

Peterborough United have continued their spending spree by signing Josh Low in a £100,000 deal from Leicester City.

Despite splashing out a combined £410,000 to bring in Conference duo George Boyd and Aaron McLean, Posh show no signs of stopping.

A deal which could eventually reach six figures has been struck for Low, who has agreed a three-and-a-half year contract.

Low only joined Leicester from Northampton Town last summer, but is happy to be dropping back down to League Two level with Peterborough.

"The management really sold me the club and I am delighted to be here," Low told the club's official website.

"It is a club that really wants to move forward, they are doing the right things and will hopefully get out of this league as soon as possible.

"I know this level well having played with Northampton and I know what is required to get out of this league."

During his time at The Walkers Stadium, Low made 19 appearances for Leicester, starting 12 games in the Championship.

Meanwhile, Lloyd Opara has left Peterborough to join Burton Albion on a month's loan, while Jimmy Ghaichem has gone to Rushden & Diamonds for the rest of the season.