"He is a good solid man and his contract with me is a handshake as far as I am concerned because I trust him completely," Mandaric told the Leicester Mercury.
"If you knew the man as much as I know him then you would feel very comfortable as far as that goes. But as far as the paperwork is concerned, it will be sorted out."
Mandaric added: "We have a very good relationship professionally and I like him as a man away from football because of his character. He would be an asset to any club, but thankfully he is with Leicester City."
Pearson has 18 months remaining on his current contract at the Walkers Stadium.