Out of touch chairman, divided board, angry staff, no accountability – Inside Leicester’s disgraceful decline to League One
“If you think Leicester can be in League One, then you have lost your mind.”
That was the view of Jordan James in December, dismissing the idea of back-to-back relegations.
Under chairman Aiyawatt ‘Top’ Srivaddhanaprabha and King Power, Leicester have developed a dangerous habit: failing to recognise decline until it is too late. Relegation happened in 2023. Again in 2025. And now, in 2026 after their 2-2 draw with Hull on Tuesday.
Relegation to League One—with the highest wage bill in the Championship—comes ten years after their stunning Premier League title win, five years after their first FA Cup triumph, and just four years after facing Roma in a European semi-final.
Next season they’ll go to Bromley and play in the EFL Trophy.
Their slide is a disgrace—but not a surprise to those who follow closely. But this season has been another level of naivety and incompetence.
Top down problems
In a series of rare media interviews in January, Srivaddhanaprabha revealed a startling lack of understanding about how Leicester have got to this point.
“I still do not understand why we went down [in 2023],” he admitted. “I think the main problem is we had no experience of a relegation fight. We were so relaxed that we were going to be okay.”
“We need to identify the problem and fix it. We should know already what the problem is and fix it.”
Asked what happens if Leicester fail to win promotion this season, he said smiling: “We promote next season.”
Those words have since become a punchline among supporters—circulated as memes and used as a symbol of a chairman that’s out of touch and taking the club to its lowest point.
“We have to help [Marti Cifuentes] quick and find a solution really quick,” he said when asked about his manager’s future amid poor results.
Hours after his interview—and seemingly backing his manager—Cifuentes was dismissed. talkSPORT understands Srivaddhanaprabha was keen to keep him but faced pressure from other members of the footballing department to sack him.
Rud-erless
Jon Rudkin’s role at the club has also become a point of anger for supporters, and for what they see as a major part in Leicester’s decline. Srivaddhanaprabha has shown unfathomable loyalty.
Rudkin is very close to the Srivaddhanaprabha family, both Aiyawatt and his late father Vichai. He has overseen periods of success as director of football, but also three relegations in four seasons — a record that supporters point to as evidence of systemic failure rather than isolated downturns.
Much of the criticism focuses on poor recruitment and contract decisions, which fans believe have contributed to losses of over £270m in the last four years, as well as the club’s first-ever points deduction for breaches of financial rules.
Rather than move away from that structure, Srivaddhanaprabha instead promoted Rudkin to chief football officer in a mid-season reshuffle.
The decision was criticised by supporter groups. The Foxes Trust described it as ‘deeply concerning’, adding: “A genuine shake-up should have resulted in him moving on, not moving up.”
The reshuffle also included another internal promotion, with finance director Kevin Davies stepping up to chief executive — reinforcing the perception of a structure built on continuity rather than fresh perspective.
The club presented the changes as part of a long-term plan to return to the Premier League, a message that only added to the sense that those in charge still did not grasp the seriousness of Leicester’s struggles.
Financial restrictions have since limited activity in the transfer market over the past 18 months.
Beyond Jordan James, loan signings have largely failed to make an impact. Julian Carranza is a clear example. Signed on loan from Feyenoord last summer, he made nine appearances without scoring before leaving at the start of the year.
That left Patson Daka and Jordan Ayew as attacking options. No additions were made in January, despite the need for reinforcements in that position.
The pair have 11 goals between them this season—and five since the window closed.
Behind the scenes, there has been disbelief at how the squad has been assembled, summed up by one club figure questioning how they have been left with just two senior strikers, one of them Ayew.
There was further frustration over delays in appointing Cifuentes’ replacement, with a dressing-room source privately describing the club’s search as ‘a f****** mess’ and ‘a disgrace’ for taking as long as it did.
“Are they taking the p***?” they added.
Gary Rowett was appointed 24 days after Cifuentes’ departure, having been a free agent having left Oxford United shortly before Christmas.
talkSPORT understands Rowett was left irritated by Enzo Maresca’s appearance in the directors’ box during his first home game in charge, a defeat to Norwich.
There was a feeling that allowing Maresca — who had asked to attend to watch his former side — sent the wrong message while Rowett was trying to establish himself.
Maresca was never under serious consideration to return, but his presence only added to the sense of confusion at a critical moment.
And the man currently at the helm won’t be there much longer. talkSPORT understands there Rowett and the club will part company and there isn’t an expectation on either side for the Englishman to be in charge with the team in League One.
Fans and staff fuming
Fans voted with their feet for Leicester’s first game after the festive period. An official attendance of over 27,000 against West Brom masked reality—thousands stayed away. Cold weather and post-Christmas fatigue did not fully explain it. Apathy did.
A group of supporters gathered ahead of home games against Norwich and QPR to protest King Power’s ownership, but it failed to grow into a more sustained movement.
Their message: “Back the team, not the regime.”
Still, the wider mood was clear: boos, empty seats and chants of ‘you’re not fit to wear the shirt; after defeats to Swansea, Portsmouth and Hull painted a bleak picture.
That Swansea match had also seen the club ask supporters to ‘bring the noise’. A rallying call is one thing. But Srivaddhanaprabha was absent at a critical point of the season — something that has become increasingly familiar.
It feels very: ‘Do as I say, not as I do.’
There was little festive cheer for Leicester’s several hundred staff. At short notice, the club’s interim managing director, Kamonthip Netthanomsak, told employees that January’s salary payment — originally scheduled for December 19 — would instead be moved to December 31 to align with King Power Group’s payroll cycle. This happened the day before staff were expecting their payments.
A club source said employees were left upset and angry by the news. For some, Christmas was ruined. Those same employees are now fearing for their jobs following relegation and the inevitable financial challenges of being in the third tier.
What next for Leicester?
Srivaddhanaprabha insisted in January that he will not sell, despite growing calls from the fanbase for King Power to go.
“Selling the club is not the way to exit,” he said. “I have to make sure that I complete everything that I did here before I want to leave. Now I need to make sure the club is in a good place.”
It’s been suggested to talkSPORT that at least two interested parties have made enquiries about the club’s availability in recent years, but those approaches have either been rebuffed or ignored.
It is important to acknowledge the emotional ties Srivaddhanaprabha has to Leicester. He inherited the role from his father Vichai in the most tragic of circumstances.
The helicopter crash of 2018 changed everything. There remains sympathy for the position he was placed in. Few would have blamed him for stepping away.
Instead, he chose to continue — determined to build on his father’s legacy. But that ambition has not been matched by reality.
Running King Power and Leicester simultaneously was always a huge task, particularly while dealing with personal loss. Not to mention, the challenging climate for the Thai duty-free company as tourism dropped in the country.
In that time, too much trust was placed in those around him — including Rudkin — to run the club in his absence. This season, Leicester operated for a period without a permanent chief executive, no commercial director and no first-team manager.
The result is a growing perception of a club lacking accountability and standards — on and off the pitch.
Legendary title-winning captain Wes Morgan told talkSPORT there must be ‘a real look into everything’ to understand what needs to change.
Now that Leicester are in a worse position than when King Power appeared on the scene in 2010, the focus inevitably turns to those in charge.
Srivaddhanaprabha has repeatedly stated his intention to stay, but back-to-back relegations will intensify the critical voices.
“I understand the strength of your feelings” he said before Tuesday’s draw with Hull. “That is not something we take lightly,” he added.
After years of decline and repeated failure under his leadership, the conclusion is unavoidable: Leicester need change at the very top if they are to ever recover.
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