Leicester City's fairy-tale Premier League title win in 2016 now seems like a distant memory, as the club teeters on the edge of relegation to League One. The Foxes' decline has been nothing short of astonishing, with the team's fortunes plummeting in the space of just seven years. The club's historic title win, which defied odds of 5,000/1, was celebrated in style, with opera singer Andrea Bocelli serenading the fans at the King Power Stadium. However, the team's subsequent performances have been a far cry from those heady days.
Despite a promising start to the 2023/24 season, which saw them win the Championship title under Enzo Maresca, Leicester's form has nose-dived, with the team winning just two of their 19 Sky Bet Championship matches in 2026. The club's woes have been compounded by a six-point deduction for breaching Premier League Profit and Sustainability rules, leaving them eight points adrift of safety with just three games to play.
The financial implications of relegation to League One would be severe, with the club's revenue predicted to fall by around 50% compared to the Championship. The parachute payments from the Premier League would provide some cushion, but these would also decrease over time. The club's wage bill would need to be significantly reduced, with many players likely to become unaffordable for a League One club. The collapse of Leicester City is a cautionary tale of how quickly fortunes can change in football, and the club's fans can only hope that the team can arrest their decline and bounce back to the Championship at the first attempt.