Russell Martin to Leicester City? Everything we know right now | OneFootball

The former Rangers boss has been heavily linked with the role at the King Power Stadium

Leicester City's unwanted run of back-to-back relegations from the Premier League into League One means the club are preparing for just a second-ever season at third tier level.

The Foxes' plight has been one of the stories of the season in the EFL, albeit for all the wrong reasons, as neither Marti Cifuentes or Gary Rowett could swiftly improve fortunes at the King Power Stadium during the 2025/26 Championship campaign.

Despite a cloud of financial uncertainty somewhat limiting transfer activity throughout each of the two transfer windows within the past 12 months, many still expected the East Midlands outfit to be in and amongst the promotion front-runners, especially with several players within the squad having experience of winning the second tier title under Enzo Maresca two seasons ago.

However, after Cifuentes was dismissed in January, Andy King's interim period in charge was followed by the sanction of a six-point deduction for a well-documented breach of the EFL's PSR regulations and the appointment of Rowett until the end of the campaign.

But, during his 14-game tenure, the experienced boss could only win twice, leaving Leicester to be relegated alongside Oxford United and Sheffield Wednesday, as well as in need of a new charger heading into 2026/27.

A handful of names have been linked with the vacancy, but one name who continues to emerge alongside Leicester is former Southampton and Rangers boss, Russell Martin.

With that being said, Football League World have rounded up everything which has come to light as a result of those links thus far.

Leicester City linked with Russell Martin managerial move following League One relegation

Martin was one of the names linked with the post at the King Power last summer before the appointment of Cifuentes, as well as earlier in 2026 ahead of Rowett's short-term move, and the same set of circumstances have come to the fore again heading towards pre-season.

Indeed, it was claimed by Alan Nixon - via Patreon - on Sunday, May 24th that the Foxes hierarchy had been attempting to lure the 40-year-old to the Midlands to steer a major rebuild from League One, despite interest from Championship sides Blackburn Rovers and Watford, as well as unnamed clubs in Italy and Spain.

Such links came after FLW exclusively revealed the Scot was on Bristol City's managerial shortlist, before the Robins moved to appoint Leicestershire-born head coach, Michael Skubala, on a three-year contract after winning the third tier with Lincoln City on 103 points.

How Leicester City are attempting to lure Russell Martin to the King Power Stadium revealed

Although Leicester's financial situation remains precarious due to significant losses, Nixon later reported that the club were readying one final lucrative move for Martin, who was claimed to have his sights set on a first European managerial move despite the identity of said clubs not being revealed.

Following his short-lived tenure at Ibrox, which included just one Scottish Premiership victory, reports emerged that Martin was in line for a healthy compensation package, with Leicester now hoping strong job security, appealing wages and a long-term deal would sway the 40-year-old to the King Power.

He is seen as the man to lead the club's rebuild, with it being claimed that such potential achievements would look rather impressive on his resume as a critical decision looms.

Despite the aforementioned uncertainty, it has also been claimed that whoever takes charge would have a £10m initial budget to work from, which is significantly strong by League One standards.

Russell Martin's previous stance on management amid Leicester City links

Other names linked with the Leicester job include NEC Nijmegen manager, Dick Schreuder and former Peterborough United boss, Darren Ferguson, although Martin appears to have taken the lead in the race to put pen-to-paper.

Whilst proving to be a divisive figure in his past two managerial spells, Martin had previously earned a strong reputation at MK Dons and Swansea City, and previous on a return to management could offer further encouragement to Foxes chiefs.

He said during an appearance on Sky Sports' Monday Night Football in March 2025: "I think I am realistic. I don't think I will get another Premier League chance right now.

"I am open to working abroad, in England again - I want to work back in the Premier League now I have got a taste of it."

Such comments were made prior to his infamous spell at Ibrox, but many would argue that such a stance hasn't changed, particularly with there now being an even greater opportunity for Martin to prove various doubters wrong.