The shocking news follows Saturday's dismal 3-0 home defeat to Millwall.
Many Foxes fans will be left outraged at the decision - after all the club finally looked to have gained some form of stability after an array of managers have come and gone through the revolving doors at the Walkers Stadium in recent years.
Leicester are currently 13th in the Championship table having made an inconsistent start to the season. This inconsistency is unsurprising when it is considered that Eriksson spent heavily in the summer on virtually a new team.
One can only assume that the club's ambitious Thai owners have taken the decision to take action sooner rather than later whilst the team are still in touching distance of the top two automatic promotion places.
So who will be the next manager to try their luck at Leicester? Already the rumours have started to surface with the likes of Martin O'Neill and Carlo Ancelotti being linked with the post.
It is highly unlikely that City owner Aiyawatt 'Top' Raksriaksorn will have sacked Eriksson without having a pretty good idea about who he will hire as his replacement - indeed a deal may have already been agreed. Watch this space.
Source: FOOTYMAD
