This was City’s first signing under the new Freedom of Contract arrangement and the fee was set by a tribunal.
Young had impressed Wallace by scoring a hat-trick against Leicester in the fourth round of the FA Cup a few months earlier.
The Foxes scorer that day was Martin Henderson, who had been best man at Alan’s wedding and he let Young know that Wallace was interested in signing him.
This led to Young signing a four-year contract at Leicester in May 1979. On the Club’s pre-season tour in Sweden, Young scored 17 goals in eight games.
He followed this up by scoring twice on his league debut for his new club against Watford at Filbert Street.
Alan was an ever-present and top scorer in the side that season, which ended in Wallace’s young team being promoted to the top flight as Second Division champions.
Despite Wallace’s famous prediction that his young side could win the First Division title, Leicester were relegated back to the second tier after just one season.
The following campaign was Young’s third and final season at Filbert Street. He was hampered by injuries, but he did play in all of the matches in the run to the 1982 FA Cup semi-final against Tottenham Hotspur.
This run included the famous game against Shrewsbury Town when Young was one of three City goalkeepers on the day.
When Wallace left the Club in July 1982, to take over at Motherwell, Young found it difficult to accept, so he moved to Sheffield United.
He subsequently played for Brighton & Hove Albion, Notts County and Rochdale before injuries forced his retirement.
Subsequently, he was player-coach at Shepshed Charterhouse, organised Notts County’s Community scheme and coached the youth teams at Meadow Lane and at Chesterfield.
He also worked for a time for the local Leicester sports media.