Oakley has been with the Foxes' since 2008, and skippered the side to the League One title under Nigel Pearson in 2009.

An energetic, ball-playing midfielder skilled in organisation, he began his career with Southampton, with whom he picked up an FA Cup runners-up medal in 2003 and won four caps with England Under-21s. During 11 seasons as a professional with the Saints, Oakley made over 300 first team appearances and scored 20 goals.

He joined Derby County in August 2006 and played a key role in the Billy Davies side that secured promotion to the Premier League through the Championship play-offs in his first season.

In January 2008, Oakley joined City for £500,000 and, while unable to prevent the Club's relegation to the third tier for the first time in its history, played a pivotal role in their immediate return to the Championship a year later. In the continued absence of Club captain Stephen Clemence, Oakley led City to the League 1 title, scoring eight times in the process.

Oakley continued to lead the Foxes as they reached the Championship play-offs the following season, while also captaining the side when selected during Sven-Goran Eriksson's first season in charge in 2010-11,