Leicester appeared to struggle in finding a suitable replacement for O'Neill. Taylor stayed just over a year, with Bassett taking over for just six months, before Micky Adams took over.

During this period City were relegated from the premiership, then gained automatic promotion the season after.

In 2002 City moved away from Filbert Street into their new home The Walkers Stadium.

In 2003 the Foxes fall into administration but a Gary Lineker led consortium buys them out of trouble. The team finish second in Division One to secure promotion back to the Premiership.

The 2003/04 season sees Leicester finish 18th in the Premiership, resulting in relegation after only one season back in the top flight.

In October 2004 Micky Adams resigns as manager and Craig Levein is brought in from Hearts as his replacement.

Levein last only 14 months, leaving City stuck in the relegation places. His assistant Rob Kelly took over as manager and steered the club to safety.

Kelly survived until April 2007, when new club chairman Milan Mandaric wielded the axe as City struggled to stay in the Championship. Nigel Worthington came in for the final five games of the season and managed to get the few remaining points which City needed to enure the escaped the drop.

Mandaric decided not to retain Worthington and his search for a new manager for the 2007/08 campaign ended with Martin Allen being appointed. However, his rein was to last just four matches before he fell out of favour with Mandaric.

After Academy coach Jon Rudkin filled in for a handful of matches, Ian Holloway was lured away from Plymouth to become City's new manager. But the unthinkable happened, with Holloway failing to stop the club from being relegated to the third tier of the league for the first time in their history.

Holloway left the club at the end of the season, with Nigel Pearson being handed the reigns for the 2008/09 League One campaign.