The Sheffield Wednesday under-21s exited the Premier League Cup on Tuesday night at Leicester.
The Development squad went down 4-1 in the Midlands.
The home side raced into an early 3-0 lead but the Owls pulled a goal back before the interval through Savic.
Leicester then extended their lead midway through the second half to seal victory.
Wednesday coach Lee Bullen said: "Credit to Leicester, they came out on the front foot and scored three goals which gave us a mountain to climb.
"We scored just before half-time which gave us some hope and the next goal was always going to be crucial.
"Unfortunately they got it but our second half performance, overall, was much better than the first.
"It’s always disappointing to lose a game but Leicester were the better side and deserved the win."