Leicester are set to sack Ruud van Nistelrooy after July 1, talkSPORT understands.
The Foxes want to avoid firing two bosses in the same PSR year having already axed Steve Cooper to make way for Van Nistelrooy.
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Manchester United legend Van Nistelrooy lost 19 of his 27 games in charge across all competitions.
The 48-year-old replaced Cooper at the King Power Stadium in November, but he oversaw just two top-flight wins.
With Van Nistelrooy at the helm, Leicester set an unwanted record as they became the first side in the top four tiers of English football to lose eight successive home league games without scoring.
Van Nistelrooy became only the second manager in Premier League history to lose eight successive home games in the competition, after Daniel Farke did so in September 2021 with Norwich City.
Leicester’s fate was secured with five games to go, as they finished in 18th spot – 13 points off safety.
Despite there being two years left to run on Van Nistelrooy’s deal in the east Midlands, the club have decided it’s time for a change as they prepare for life in the Championship once again.
Sheffield Wednesday boss Danny Rohl has been earmarked as a potential replacement for the ex-Red Devils striker.
talkSPORT reported last month how the ex-Bayern Munich and Southampton assistant manager has decided to leave the club.
Rohl has impressed at Hillsborough since taking over for his first managerial role in October 2023 amid repeated money issues at the club.
Meanwhile, Leicester director of football John Ruskin has been pushing for Sean Dyche to replace Van Nistelrooy.
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But club sources have denied the former Burnley boss has been lined up to take over.
Russell Martin had been on Leicester’s radar.
But the former Southampton manager has instead been appointed at Rangers.
Leicester fans had been expected a change in management, with Van Nistelrooy stating last month how he had not yet held any talks to discuss his future.
He said: “I would like to talk and that’s the first thing that needs to happen.
“It’s been silent and it’s something towards the end of the season, get things done with and then I expect to hear something.”
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Before adding: “It’s important to start talking and to see how we look into the future.
“It’s what you need to find out. So far there hasn’t been any conversation, but I’m waiting for that to happen.”