Leicester City have been relegated to League One, just a decade after winning the Premier League in one of football's greatest fairytales. The club's decline has been swift, with only two league wins since the turn of the year, a six-point deduction for breaching financial rules, and a change of manager that failed to halt the slide.
Fans have directed anger at the players, who were told they were 'not fit to wear the shirt' after a defeat at Portsmouth. Sporting director Jon Rudkin, a 30-year veteran of the club, has also faced criticism. Rudkin oversaw the title-winning side and the 2021 FA Cup triumph, but his transfer strategy in 2021-22 is now seen as a key factor in the collapse.
That summer, Leicester spent around £55m on Patson Daka, Boubakary Soumaré and Jannik Vestergaard, while recouping less than £4m in sales. The move backfired, with none of the signings proving successful and pre-tax losses tripling to a club record £92.5m. The following year, key defender Wesley Fofana was sold for £70m, but by the end of 2022-23, Leicester were relegated from the Premier League with another £90m loss.
Owner Aiyawatt Srivaddhanaprabha, known as 'Top', told fans outside the King Power Stadium: 'I cannot blame anyone. I can blame myself if you want to. I tried everything, but it was not enough.' The club's plight has been compounded by the tragic death of his father, Vichai, in a helicopter crash in 2018.
Leicester now sit seven points adrift of safety in the Championship with two games remaining. While the club are expected to return to the higher divisions, their fall from grace serves as a cautionary tale about the risks of chasing success in modern football.
