Brendan Rodgers is the 12th Premier League manager to depart this season after crisis talks with Leicester on Sunday morning.
Rodgers’ four-year tenure is over by mutual agreement with Leicester taking drastic action in a bid to halt their alarming slide into the relegation zone.
Leicester have slipped into the bottom three after six league games without a win and chairman Aiyawatt Srivaddhanaprabha admitted they were left with no choice but to make a change.
The former Liverpool and Celtic manager has been under scrutiny from supporters for over 12 months, but the situation has reached a critical point in recent weeks.
During and at the end of Leicester’s defeat by Crystal Palace on Saturday, a large section of the travelling fans called for Rodgers to go.
The Telegraph understands there are no immediate replacements lined up and the prospect of coaches Mike Stowell and Adam Sadler taking this week's games against Aston Villa and Bournemouth has not been ruled out.
Srivaddhanaprabha said: "The achievements of the team under Brendan’s management speak for themselves – we’ve experienced some of our finest footballing moments under his guidance and will always be grateful to him and his staff for the heights they helped us to reach on the pitch.“His place in Leicester City history is assured. “However, performances and results during the current season have been below our shared expectations.
“It had been our belief that continuity and stability would be key to correcting our course, particularly given our previous achievements under Brendan’s management.
“Regrettably, the desired improvement has not been forthcoming and, with 10 games of the season remaining, the Board is compelled to take alternative action to protect our Premier League status.
“The task ahead of us in our final 10 games is clear. We now need to come together – fans, players and staff – and show the poise, quality and fight to secure our position as a Premier League club.”
Though the past two seasons have proved a struggle, Rodgers became the first Leicester manager to lift the FA Cup while leading the club to two successive fifth-placed finishes.
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