Leicester City's return to League One has been anything but smooth. A draw on opening day, a home defeat in their second match, and growing fan frustration — manager Russell Martin now finds himself under intense pressure just weeks into the job.

The Foxes drew at Notts County before losing 2-1 at home to Burton Albion. That result was enough to prompt bookmakers to cut Leicester's odds of a third consecutive relegation — this time into League Two — to 33-1.

A club in turmoil

Leicester's fall from grace extends well beyond the pitch. Thai owners King Power are actively seeking to sell the club after 16 years in charge, with an eight-page sales booklet already in circulation to attract potential buyers. No formal statement has been issued by the Srivaddhanaprabha family.

The club's financial difficulties have been mounting since 2022, when heavy investment in the transfer market failed to yield a European qualification spot. Accounts revealed losses of nearly £100 million in both 2021-22 and 2022-23, and Leicester were handed a six-point deduction for breaching profit and sustainability regulations — a penalty that applies to the 2025-26 season.

Leicester finished last Championship campaign in 23rd place, five points from safety.

Martin's record under scrutiny

Martin, 40, was appointed on a three-year deal in June, joining with his managerial stock already fragile. Since leading Southampton to the Premier League through the play-offs in May 2024, he managed just two league wins across Southampton and Rangers — the latter for only 123 days before being sacked in October 2025.

His only Scottish Premiership victory with Rangers came via an added-time winner against Livingston.

At Leicester, Martin's possession-based philosophy — the squad held 73 percent of the ball in the loss to Burton — has divided the fanbase before it has had chance to bear fruit.