Craig Shakespeare took over as caretaker manager, and in his first match in charge, Leicester won 3–1 against 5th placed Liverpool. They won the League Cup in 1964, 1997 and 2000 respectively, and were finalists in 1964–65 and 1998–99. By Christmas, Leicester were in 8th place in the Premier League and finished 9th at the end of the season. In 2020, the club moved into a new state-of-the-art training complex in the Leicestershire village of Seagrave, described as being "one of the world's most advanced training facilities.

Taylor was sacked after a poor start to the 2001–02 season, and his successor Dave Bassett lasted just six months before being succeeded by his assistant Micky Adams, the change of management being announced just before relegation was confirmed. Jock Wallace resumed the tradition of successful Scottish managers (after Peter Hodge and Matt Gillies) by steering Leicester to the Second Division championship in 1980.A 2–0 victory at Sunderland on 10 April, coupled with Tottenham Hotspur's 3–0 win over Manchester United, ensured Leicester's qualification for the UEFA Champions League for the first time in their history. But I've gradually got used to it, and reading this thread it's clear that it means as much to subsequent generations as the shield does to old gits like me. They recorded the fewest losses in any of the club's previous Premier League seasons, the fewest away defeats in any top-flight season, and the most consecutive wins in the top flight. However, when Brian Clough was appointed as Forest manager in 1975, much to the dismay of Derby fans, the rivalry between Forest and Derby quickly intensified.

Leicester won the Division Two championship in 1954, [18] with the help of Arthur Rowley, one of the club's most prolific strikers. City won promotion in their first season with this crest and played Premier League football with it in 2003/04. Their 2–1 home win over Sheffield Wednesday, combined with losses by Queens Park Rangers and Derby County, allowed Leicester City to clinch promotion to the Premier League after a ten-year absence. Kelly steered Leicester to safety and in April 2006 was given the manager's job on a permanent basis. Coincidentally, Leicester kept a record of five straight clean sheets against each of the same five opponents.

The club, however, was celebrating a week later when a draw on the last day of the season ensured survival in Division Two. On 21 September 2014, Leicester went on to produce one of the greatest comebacks in Premier League history, beating Manchester United 5–3 at King Power Stadium. Vardy is also the ninth player to score 20 top-flight goals in a season, following Arthur Chandler, Ernie Hine, Arthur Rowley, Jimmy Walsh, Ken Keyworth, Jackie Sinclair, Frank Worthington and Gary Lineker.

A nominal role of secretary/manager was employed, though the board and the selection committee took control of most team affairs. The 2019–20 season started with the team picking up 38 points from their first 16 matches, which included a record eight-game winning streak from 19 October to 8 December. Depending on which colour shirt the crest was set upon, the background colour would change to adapt.A visual and descriptive guide to the transformation of Leicester City's crests which, apart from rare hand-sewn usages in the Club's earliest days, first came into effect in the mid-20th century. Wallace was unable to keep Leicester in the First Division, but they reached the FA Cup semi-final in 1982. The actual letters around the fox have changed over time with different fonts for the lettering and the cheeks of the fox have changed from a golden colour to white. During the 2014–15 season, a dismal run of form saw the team slip to the bottom of the league table with only 19 points from 29 matches.

Gillies guided Leicester to their first piece of silverware in 1964, when Leicester beat Stoke City 4–3 on aggregate to win the League Cup for the first time. Leicester are currently the first and only team in Champions League history to keep clean sheets in each of their opening four games in the competition. On 1 October 2010, after a poor start that saw Leicester bottom of the Championship with only one win out of the first nine league matches, Paulo Sousa was sacked by the club with immediate effect. Mandarić placed Frank Burrows and Gerry Taggart in the shared position as caretaker managers until a professional manager was appointed.Since 1992, the club’s badge has featured a fox’s head overlaid onto a Cinquefoil; the Cinquefoil is similar to the one used on the coat of arms of Leicester. This could have brought a sudden end to Leicester's seven-year rise, but seven wins from their final nine league matches meant The Foxes finished the season in 14th place with 41 points.