Russell Martin to Leicester City odds slashed in new update after humiliation vs Charlton
Leicester City are on the hunt for a new manager after Marti Cifuentes was sacked earlier this week.
The Foxes have had a dire campaign to date, and are currently 15th in the table, nine points off the playoffs.
Promotion for Leicester looks highly unlikely this season, but a top-six finish is still possible as it stands if the appointment is right.
As a result, many managers have been linked to the King Power Stadium, including Vitor Pereira.
However, Russell Martin has now suddenly emerged as the favourite in a shock twist.
We can confirm that Martí Cifuentes has left his position as Leicester City First Team Manager with immediate effect.
— Leicester City (@LCFC) January 25, 2026
Russell Martin now just 2/1 for Leicester City job
Martin has been out of work since he was sacked by Rangers in October.
The former Southampton manager was awful at Ibrox, winning just five of his 17 matches in charge.
Nevertheless, the 40-year-old continues to boast a good Championship record after he guided the Saints to promotion in the 2023-24 campaign.
Now, the bookies believe he has a great chance of becoming the next Foxes’ coach.
📊 Rangers in the Scottish Premiership under Danny Röhl.
— 𝗠𝗶𝗰𝗵𝗮𝗲𝗹 (@RFC_Michael_) January 25, 2026
Sacked Russell Martin ➡️ Today. pic.twitter.com/bgw904e19k
One bookmaker now has Martin as the favourite for the role, at just 2/1.
Oddschecker on 31 January have confirmed that these odds have been slashed, with the manager previously being 8/1 earlier this week.
Who else is in the running for the Leicester job?
Following Martin, Chris Coleman remains in the running for the position at 3/1.
The former Wales National Team manager has not been in the dugout in the UK since Sunderland in 2018, where he was unable to guide them away from the relegation zone before their eventual drop into League One.
Gary Rowett is also one of the favourites, with the former Oxford United boss backed at 5/1 to make a quick return to the Championship.
Former Wolves manager Pereira is now 6/1 to become the Leicester manager, while Andy King is also a potential outsider at 8/1.
King took charge of his first game on Saturday as caretaker manager when the Foxes lost 2-0 to Charlton Athletic in what was a poor showing from the visitors against a relegation threatened side.
However, it remains to be seen who Leicester elect to appoint over the coming days as they look to get their campaign back on track and return to the Premier League once more.