The Hannover goalkeeper is locked in talks with Leicester this week after the champions matched his buyout clause.
Zieler would arrive as direct competition for Schmeichel and the Dane insists he is happy about the situation.
He told Bold: "The contract of Mark Schwarzer is expiring. It was clear that a new goalkeeper needed to be taken.
"It is natural that we strengthen as we are in the future to be represented in four competitions."