Leicester City confirm the departure of Claudio Ranieri

With the Foxes hovering just one point above the relegation zone, the Italian was relieved of his duties after the team returned home from Wednesday night's 2-1 Champions League defeat to Sevilla.

In announcing Ranieri's departure, the club paid tribute to his achievements as the club's "most successful...manager of all time" but said their perilous league position required action. 

Last season, Leicester defied 5000/1 odds to lift the Premier League trophy just one season after a late escape from relegation under Nigel Pearson.

But this season the Foxes have been thoroughly unable to replicate such form, and the problems have grown in recent weeks.

They have not tasted victory in their last nine outings, since a 2-1 away win at Everton in the FA Cup on January 7, with their last league victory a 1-0 win over West Ham on December 31.

Assistant manager Craig Shakespeare and Mike Stowell will take interim charge ahead of Monday's match against Liverpool. 

Leicester City's statement in full

Leicester City Football Club has tonight (Thursday) parted company with its First Team Manager, Claudio Ranieri.

Claudio, appointed City manager in July 2015, led the Foxes to the greatest triumph in the Club's 133-year history last season, as we were crowned champions of England for the first time. His status as the most successful Leicester City manager of all time is without question.

However, domestic results in the current campaign have placed the Club's Premier League status under threat and the Board reluctantly feels that a change of leadership, while admittedly painful, is necessary in the Club's greatest interest.

Vice-chairman Aiyawatt Srivaddhanaprabha said: "This has been the most difficult decision we have had to make in nearly seven years since King Power took ownership of Leicester City. But we are duty-bound to put the Club's long-term interests above all sense of personal sentiment, no matter how strong that might be.

"Claudio has brought outstanding qualities to his office. His skilful management, powers of motivation and measured approach have been reflective of the rich experience we always knew he would bring to Leicester City. His warmth, charm and charisma have helped transform perceptions of the Club and develop its profile on a global scale. We will forever be grateful to him for what he has helped us to achieve.

"It was never our expectation that the extraordinary feats of last season should be replicated this season. Indeed, survival in the Premier League was our first and only target at the start of the campaign. But we are now faced with a fight to reach that objective and feel a change is necessary to maximise the opportunity presented by the final 13 games."

First Team preparations for Monday's Premier League fixture against Liverpool will resume on Saturday, with Assistant Manager Craig Shakespeare and First Team Coach Mike Stowell taking charge of the squad until a new manager is appointed.

Assistant Manager and First Team Coach Paolo Benetti and First Team Sport Science and Conditioning Coach Andrea Azzalin have also parted company with the Club and leave with our thanks for their service and best wishes for the future.

The Board will now begin the recruitment process and will make no further comment until that process is completed. 

Leicester's decline in numbers

Press Association Sport casts an eye over the key statistics which have contributed to the Foxes' decline.

32 - the Foxes are 32 points worse off than at this stage last season, with 21 as opposed to 53.

14 - they have lost 14 games, compared to only two last season. They also have only five wins as opposed to 15.

24 - their goal tally tells a similar tale of woe, having scored 24 this season against 47 through the same number of games last term.

0 - away wins this season. They have taken three points from 13 away games - only Burnley, with one from 11, have a worse record on the road.

0 - also the number of Premier League goals they have scored in 2017, in six games which have brought them only one point.

11 - in all, Leicester have drawn a blank in 11 games this season - it happened just three times in the whole of last season.

3.2 - Leicester's average for shots on target per match this season, the third-worst record in the division. Last season they ranked fifth with an average of 4.8.

343 - minutes the Foxes have spent in the lead in matches this season, compared to 863 at this stage last season.

5 - England striker Jamie Vardy, who scored in 11 consecutive league games last season on his way to 24 goals for the season and a Euro 2016 place, has just five this time around.

17/11 - PFA player of the year Riyad Mahrez's goal and assist tallies from last season. He has three goals and two assists this term.

1 - Danny Drinkwater too has tailed off dramatically, setting up just one goal this season as opposed to seven last.

5/3 - summer signing Islam Slimani leads the team with three assists and sets the pace alongside Vardy with five goals.

86 - N'Golo Kante, the one significant departure from last season's squad, has made 86 tackles this season in 24 appearances for Chelsea - ranking him third in the Premier League. Daniel Amartey, Wilfred Ndidi and Nampalys Mendy - signed for upwards of £33m altogether and tasked with filling the void he left in Leicester's midfield - have totalled just 50 in 27 combined appearances.