Leicester City’s situation has changed drastically in recent years, highlighting how quickly fortunes can shift in the Premier League. This decline reflects a lack of long-term planning, poor investments, and decision-making failures.
The 2015/16 season marked a remarkable moment in football when Leicester City achieved what seemed impossible, winning the Premier League title.
Now, exactly ten years later, the once-celebrated team finds itself in a fierce battle against relegation to the Championship.
Following the exit of key players and managers who contributed to that title win, the essence that drove their success has been missing. The King Power Stadium, once a stronghold, now echoes with the disappointment of fans as the club faces challenges stemming from financial mismanagement and lackluster performances on the field.
What Has Happened To Leicester City?
The Financial Issues: How Overspending Led to Leicester City’s Decline
Leicester City received a six-point deduction which has significantly affected their relegation struggle, but it is not the sole reason for their current plight. This sanction resulted from violations of the English Football League’s Profit and Sustainability Rules (PSR) during a review period ending in the 2023/24 season.
An independent review found that the club overspent by around £20.8 million, surpassing the loss limit of £83 million set for that timeframe. Additionally, Leicester failed to submit their financial accounts on time for the year ending June 30, 2024.
Though a tougher penalty of 12 points was initially on the table, the commission opted for a six-point deduction, noting the club’s “improving financial position” as a factor in their decision.
This deduction marks a turning point for Leicester City, as the team, having won only 10 matches, faces a serious fight to maintain their place in the league.
The End of an Era, Marked by Unsuccessful Replacements
The departure of captain Jamie Vardy at the end of the 2024/25 season marked a significant loss for the team, as no players remain from their incredible title-winning side of 2016.
The team lost vital players over the years, starting with N’Golo Kante’s move to Chelsea in 2016, which left a significant gap in the team’s structure. Other key players, including Riyad Mahrez and Kasper Schmeichel, also departed without suitable replacements, resulting in a decline in quality and team morale.
Vardy’s departure was a poignant reminder of the leadership now absent from a squad battling against relegation.
Additionally, the controversial dismissal of Claudio Ranieri, who led the team to the league title, marked another pivotal moment. He was fired after the team struggled significantly, failing to score in the first two months of 2017.
Managerial Changes
Since Ranieri’s exit in 2017, Leicester City has cycled through seven permanent managers and 10 total, counting interim and caretaker roles. These frequent changes have contributed to the erosion of the team’s identity as each new coach brought different tactical approaches.
The peak of this instability occurred between 2023 and 2026, when the club cycled through multiple coaches too quickly instead of building upon the stability established during Brendan Rodgers’ tenure. Erratic decisions from the board, focusing on immediate fixes rather than a long-term plan, left the team disheartened and struggling with constant change. By the time Gary Rowett was appointed as interim manager, the harm had already been done.
Despite the daunting situation, hope still exists for Leicester City. With 13 matches left in the Championship season, there is still a chance to escape the relegation zone and avoid dropping to League One.