former premier league Champions Leicester will play in the third tier of English football next season.
Leicester scored The most unlikely title win of the Premier League era At odds of 5,000-1 in 2016, they needed a win on Tuesday to keep their hopes of avoiding relegation alive, but they drew 2-2 with Hull.
The Midlands club, who also won the FA Cup in 2021 and played in England’s top flight last season, are second to last in the Second Division Championship.
Leicester chairman Aiyawatt Srivaddhanaprabha said in a statement to fans that he was responsible.
“There’s no excuse,” he said. “We have experienced the highest highs and now we have experienced the lowest lows. That pain is shared by all of us. We are truly sorry for the disappointment we have caused.”
After Leicester were relegated, Earned 6 points in February For breaching the English Football League’s financial regulations when the league secured promotion for the 2023-24 season. They lost an attempt to overturn that ban earlier this month, dropping them into the relegation zone.
It’s a dramatic decline after Leicester’s fairytale title run 10 years ago.
The 2014-15 season was spent fighting relegation from the top flight, only for an unexpected win to come in the final weeks of that season.
This was followed by an impressive title win, as they finished top of the table, 10 points behind Arsenal.
Leicester are 142 years old and have only played one season in the third tier of English football. They won the League One title in the 2008-09 season and were re-promoted to the Championship.
English football’s slide down the pyramid has been costly, mainly due to a decline in broadcasting revenue.
For the 2023-24 season, average gross revenue for League One clubs was $12.2 million, which was about a quarter of the average revenue for Championship clubs. According to Deloitte. average income For Premier League clubs That season was $422 million.
“We are now focused on what happens next. We will make the necessary decisions to take the club forward and help Leicester City rebuild, improve and restore the standards expected of Leicester City,” Srivaddhanaprabha said. “Our aim is clear: to respond strongly and compete to move this club forward again.”
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