There were loud cheers when it was revealed that the club's shareholders had given the green light to tycoon Milan Mandaric's approach to take over the Foxes. That is now expected to be completed by mid-December.
Preston needed a two-goal win to go top of the Championship and they started full of purpose with Simon Whaley rippling the side-netting before Patrick Agyemang fired them into a 16th-minute lead.
Paul McKenna and Agyemang combined to set up Sean St Ledger whose shot struck the base of Conrad Logan's left-hand post with Agyemang reacting first to sweep home the rebound.
The Foxes squandered a good chance to level on 22 minutes when a Danny Tiatto free-kick created confusion in the Preston rearguard to allow Nils-Eric Johansson to lay the ball back to Stephen Hughes who sliced his shot wide.
A minute before the break City went close when the persistent Iain Hume got away from Chris Sedgwick to unleash a rising shot which arrowed towards the top corner before Carlo Nash launched himself to produce a superb finger-tip save.
And Leicester were first to threaten after the re-start when Matt Fryatt seized on a loose ball but his half-hit shot was gathered comfortably by Nash.
The home side had a good call for a penalty waved aside on 62 minutes when Sedgwick appeared to bundle over Hughes inside the area.
With 20 minutes remaining Preston skipper Graham Alexander almost presented Leicester with a gift-wrapped equaliser with a weak backwards header which was seized upon by substitute Elvis Hammond, but Nash was quick to spot the danger and dashed from his line to block the shot.
The momentum remained with Leicester who almost forced a breakthrough three minutes from the end when Gareth McAuley's downward header was turned towards goal by Hume but Nash was there to smother the ball on the line.
Then, right at the death, Hughes held his head in his hands after firing straight at Nash to allow Preston to cling on for the win.