Time is Up for King Power… Why Shock Southampton Loss Shows They Need to Sell NOW

Time is Up for King Power… Why Shock Southampton Loss Shows They Need to Sell NOW

Things are going from bad to worse for Leicester City at the moment and the complete collapse against Southampton on Tuesday night summed up the last couple of seasons for the Foxes.

Last night, Leicester came out of the blocks strongly, finding themselves 3-0 up inside 30 minutes. However, the performance in the second half was unacceptable and as soon as Southampton got one back in the 61st minute through Ross Stewart, it looked as if the collapse was inevitable. Incredibly, the Saints scored three more goals with the final one coming from Shea Charles in the 6th minute of injury time to complete an incredible turnaround and take all three points away from the King Power Stadium.

It is very possible that on the exact day of their 10-year anniversary of their incredible 5000/1 Premier League title win they will be playing their last Championship game before being relegated down to the third tier of English football. The decline, in the past few years especially, is astonishing as only four seasons ago was the King Power Stadium hosting Europa League football and now finds itself on the brink of League One football next season.

As was seen last night, in recent matches the attendances at the King Power Stadium have dropped drastically as fans are struggling to back a club ran in this way and with players that aren’t turning up each week. It is so frustrating to watch as many of the players have played in the Premier League during their career and are now staring down the path to League One losing home games to Charlton Athletic and Oxford United.

Just when you thought #LCFC couldn’t possibly find new, more farcical, ways to inflict suffering and misery, they always, always deliver. Fair play.

— James Sharpe (@TheSharpeEnd) February 10, 2026

It has been well published in recent years about Leicester’s financial struggles as a result of PSR, and last week they were hit with an immediate six-point deduction as a result of breaching these rules. However, as much as the unexpected relegation from the Premier League in 2023 would have had a negative impact on their finances, poor decision making at the top regarding contract situations are also part of the problem.

In the 2022/23 season that the Foxes were relegated from the Premier League, they had one of the highest wage bills in the league with an average player salary of £94,000 per week. This immediately rings alarm bells as they are wages that compete with the very top clubs in the league which is a big risk having only been in Europe for a couple of years.

On top of that, following on from relegation and in the past few years, the club have let a number of players run down their contracts and leave on free transfers come the end of a season. This seems an opportunity lost for a club struggling to meet PSR regulations as selling these assets would help towards the revenue of the club.

It’s time for change. The message is clear: King Power Out. We need to raise funds to make this happen and show our support. Every contribution counts, and your voice matters. Please consider donating or sharing this campaign to help spread the word.#lcfc…

— lcfc78lee (@lee1978lcfc) February 11, 2026

Due to these PSR regulations, the club have struggled to invest in the transfer market in recent seasons and have instead utilised the loan market. The majority of these signings that have been made in recent years have turned out to be underwhelming and they find themselves short in certain areas of the pitch. For example, since the departure of club legend Jamie Vardy, they are yet to find their replacement and the only striker that was added in the summer window was Julian Carranza on loan. This signing didn’t work out and in January he was recalled by parent club Feyenoord.

Another area that the club have had problems within recent years is the appointment of managers. In just four seasons the club have had 6 managers and the only success in that period was Enzo Maresca who won the Championship with the club in 2023/24.

In 2023 between the sacking of Brendan Rodgers and the appointment of Dean Smith they wasted two games without a manager in place which was costly come the end of the season. It doesn’t seem as if the hierarchy of the club have learnt from this however as they have already played three games since the sacking of Marti Cifuentes and there are no concrete links to a new manager just yet.

Another similarity that this season has had with the unexpected relegation in 2023 is that the team were seen as too good to go down. They went on to get relegated that season and based on the poor leadership and mentality of the current squad, it would seem a repeat is certainly on the cards this time around.

The day that Marti Cifuentes was relieved of his duties, the club chairman Aiyawatt Srivaddhanaprabha (Top) did various interviews with multiple journalists. Following the release of these interviews, the reaction from fans is that he seemed very naïve and not understanding of the problems that the club faced. One of the answers he gave to a question asking if there are consequences to the club if promotion to the Premier League isn’t achieved was that they would just get promoted next season.

It seems that this downward spiral that Leicester City find themselves in under the ownership of King Power isn’t ending anytime soon. The past few seasons have shown the fans all they need to see and they believe that this ownership do not have what it takes to turn it around and take the club back to the Premier League. So if they didn’t want to disconnect the fans even more then is it time that Leicester City Football Club was taken forward by someone new?