Leicester sack Sven

A meeting was held with the club's Thai owners for several hours on Monday and it was decided to part company with the former England boss.

Eriksson's last match in charge was the 3-0 defeat to Millwall at the weekend which left Leicester in 13th position in the Championship, but just two points off the play-offs.

Leicester's owners, King Power, are understood to be unhappy with the return on a £10million summer spending spree as they target a return to the Premier League.

And as a result they have dismissed Eriksson, who only took charge on a two-year contract in October 2010.

Shock

Former Leicester boss Martin O'Neill will be installed as a favourite to take charge at King Power Stadium, having left a successful first spell at the club in 2000.

The sacking at Leicester is a latest setback in English club football for Eriksson after parting company with Manchester City in 2008 and a bizarre spell at Notts County in 2009.

Derek Fazackerley, who worked as an assistant to Eriksson, will also leave Leicester and has ruled out staying on as a caretaker boss after implying the club have replacements lined up.

"I think the club have got that in hand," he told Sky Sports News. "They have got people in place and I think it is in good hands. I just wish them all the best for the future."

Asked how much of a shock the sacking had caused, Fazackerley said: "If you don't win football games when you should win football games, then it is no great shock.

"But obviously it is disappointing. But that's life."