£10m Leicester City transfer update emerges | OneFootball

It's been revealed how much Top Srivaddhanaprabha is putting towards Leicester City's League One transfer budget in 2026/27...

Leicester City are a League One club again for the first time since 2008/09, with the Foxes having won the Premier League and FA Cup since then.

A win against Blackburn Rovers on the final day of the campaign saw Leicester City finish 23rd and came 10 years to the day since that historic title win in the top flight. It puts into perspective their disastrous campaign.

Leicester will want to return at the first time of asking following successive relegations, but their financial situation is one which fans and neutrals alike will be scratching their heads over.

The Foxes were deducted six points this season, and they will be in receipt of parachute payments in League One next season. However, some of their players are on eye-watering wages for the third tier, albeit there are ways Leicester can trum their wage bill next term.

Leicester City's transfer budget in League One after relegation

Leicester need to hit the ground running in the transfer market, while also culling the playing squad they currently have too. They are perhaps one of the most interesting clubs in English football as we head into the summer.

But their spending power is questionable, even as a club that has operated in either the Premier League or the Championship for so long. League One clubs do not often spend tens of millions on players, with the exception of Birmingham City in 2024/25.

However, Alan Nixon claims that Leicester will have £10 million to sign on new players without sales, and that they are already looking to spend that quickly to get off to the best possible start.

He states that, despite the fact the the Foxes have slumped to League One, their "spies and scouts have already been told there is a budget to go for quick deals."

Leicester will also have to offload players, with it being extremely likely that there will be widespread interest in players like Abdul Fatawu. It's not abundantly clear yet how much that will improve their transfer kitty but they will be outspending most of the third tier next term.

The perspective on Leicester City's recent demise

The fans need some optimism as Leicester suffering back-to-back relegations into League One in 2026 stands out as one of the most embarrassing campaigns in recent English football because of the club’s stature in the last decade.

This is a side that won the Premier League in 2016 and remained an established top-flight outfit for years after. To fall from the Championship into the third tier immediately after relegation suggests incredibly deep-rooted issues. The kind that won't be able to be rectiied in one window in the third tier.

But there are certainly things to be looked at in terms of poor recruitment, financial mismanagement, and a fractured squad lacking leadership this season. Also, unlike typical relegations, this wasn’t a gradual decline but a total collapse.

Expectations of an instant bounce-back only heighten the humiliation, especially given Leicester’s resources compared to their rivals. Over the past decade, few clubs with such recent success have unravelled so quickly or dramatically, making this campaign one of the worst in recent memory.

The club are going to have to work hard to fix the relationship with the fans, while also figuring out the best ways to create good will and harmony between the squad and the wider fanbase too.