Ten years ago, until today, Leicester City were at the top of the Premier League and on the verge of winning a glorious and historic title.
Currently, the Foxes are languishing in the relegation zone in the Championship. This is the club that won the FA Cup just five years ago.
On Saturday they travel to Portsmouth, who defeated Ipswich at Fratton Park in midweek. This result leaves Leicester in a safe situation with just five points adrift with four games remaining.
The situation is bleak, both on and off the pitch. The 6 point deduction clearly did not solve the problem. However, despite the financial constraints brought on by missteps and relegation, the team continues to perform well below expectations.
They are seeing their fall to League One for the first time since 2009…
“Looks like they haven’t had enough of a fight yet. I think it’s over.”
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The Sky Sports Essential EFL Podcast takes a look at the Championship fixtures.
Tommie Smith appears on EFL podcast Sky Sports Essential:
“Leicester are in a tough spot. To be honest, I think they’re done. I don’t think there’s enough talent in the team or in the dressing room to win three of four games. That’s what they need right now.”
“When you look at the other teams picking up points and seeing Portsmouth’s last four games they’ve won two and drawn two against some really tough opponents, which is great.
“The point away at Norwich, the win at Middlesbrough and last night’s win, these are real signs of a team coming back to life after struggling for so long this season.
“The problem for Leicester is stability. There have been too many draws since Gary Rowett came in. At this stage of the season, draws don’t really help.”
“You’d rather win or lose than draw three or four. That’s the situation Leicester are in right now. They don’t look like they’re putting up enough of a fight, of course it’s still not enough and there are only a few games left.
“This weekend’s game at Fratton Park means a lot to them, but even if they win they still need two more wins in their last three games, which is not easy for a team that hasn’t won a game.”
Fan opinion: “Lack of visible passion”
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Highlights of the Sky Bet Championship match between Leicester City and Swansea City.
Leicester fan Elliott Sumner – obsessed with Leicester
“This season has played out in a way that few people expected. Our first big mistake was failing to add an experienced striker, which we all knew we needed to fill after Jamie Vardy’s departure.”
“The decision not to bring in a striker really cost us. But at least we were still a team that could make it to the play-offs. The reality was far from that.”
“The crucial problem is the lack of visible passion. Too often performances feel flat and the players sometimes look lazy, as if they are just here for the money rather than playing for the badge.
“Reports of a locker room collapse only confirm the situation that was evident on the pitch: disconnection, low morale and the team not appearing to be united.
“But the problems seem to run deeper than just the players. Much of the frustration is directed at the board, with owner Ayawat Srivaddhanaprabha largely absent and failing to communicate with supporters and maintain the relationships he once promised to build.”
“This silence only widens the rift between the club and its fan base. Meanwhile, too much power appears to have been given to John Rudkin, and his recruitment decisions and willingness to pay high salaries to players have contributed significantly to the club’s current decline.”
“The lack of transparency surrounding the club’s financial difficulties has added to the frustration, leaving supporters in the dark as to why things deteriorated so quickly.
“On the pitch, this season has been particularly difficult to watch because of the lack of games. Even the atmosphere around the club has deteriorated.
“After all, it is painful for a club to be in this position and look at the realistic possibility of dropping into League One, a scenario that seemed completely unthinkable in recent times.”
Leicester’s finances would suffer a ‘significant blow’ if relegated to League One
Rob Dorsett of Sky Sports News:
Leicester would take a major hit to their income if they are relegated to League One, with their income expected to be around 50 per cent lower than in the Championship, or less than a third of their Premier League income at this time last year.
The fall in revenue will be particularly significant for a club that won the Premier League 10 years ago and the FA Cup just five years ago. They enjoyed an annual income of £187m in the top division, but are expected to earn just over £100m by the end of this Championship season, dropping to £60m a year in League One.
Despite the drop in revenue, Leicester will remain by far the biggest earners in the division next season. The average income for a League One club is around £10m, one-sixth of Leicester’s.
Leicester’s rapid fall from grace means they will at least have some financial cushion as a result of the Premier League’s parachute payments aimed at softening the blow of relegation to the top flight in 2025. That right would remain the same even if the club were relegated for the second year in a row.
However, these parachute payments will reduce over time, so the amount next season will also be significantly lower (around £10m lower in Leicester’s case). Clubs dropped out of the top division receive approximately 55 per cent of their Premier League qualification in their first year, 45 per cent in their second year and 20 per cent in their third year. This means that even if Leicester return to the Championship at the first attempt within the next 12 months, their parachute payments will be further reduced for the start of the 2027/28 season.
Leicester’s payroll will have to be reduced by around 30-40 per cent, some of which will naturally occur due to the relegation clause in player contracts. However, there is also a great deal of fluidity in the squad, with many players potentially becoming out of reach for League One clubs or simply deemed too talented to be content playing in England’s third tier.
The most notable of these is Abdel Fattaw, who could have been signed for around £35m when Leicester were relegated from the Premier League last summer.
According to Sky Sports News, a number of top-tier clubs were prepared to pay that amount for him at the time. Now, if Leicester were in League One, his market value would likely be lower, perhaps £10m to £15m lower for a potential buyer, but one would expect Leicester to fight for the best possible price.
