Leicester City's summer 2026 transfer window looked like a full clearance sale; it was driven by serious financial trouble after back-to-back relegations sent them tumbling all the way down to England's third tier. With an unmanageable wage bill, falling broadcast money and owners King Power working with Citibank to explore a possible takeover, the Foxes made the drastic yet necessary call to rip up their squad and start over.
LCFC quickly allowed out top earners to leave, and sold their best, along with most valuable,
players as fast as they could, both to bring in quick cash and to drastically slash running costs. This huge exodus was led by winger Abdul Fatawu, who headed to Ipswich Town for a division-record fee that could rise as high as £23 million.
Moroccan midfielder Bilal El Khannouss signed for Stuttgart prior in a big deal, while teenage talent Jeremy Monga netted pure profit when he joined Manchester City. Midfielder Harry Winks made the move to Italian side Cagliari for an undisclosed sum, and smaller permanent departures saw Henry Cartwright, Amani Richards, and Silko Thomas all drop down to lower-league teams.
Several senior players left for free when their contracts ran out too: Ricardo Pereira, Patson Daka, Jordan Ayew and Jamaal Lascelles. Left-back Victor Kristiansen joined Panathinaikos on loan; young prospects Logan Briggs and Kirsten Otchere also secured temporary moves to aid their development.
To fill all the gaps left by so many departures, new Foxes manager Russell Martin set about a sensible rebuild mainly built around experienced clever, low-risk signings. He quickly brought in Alex McCarthy and Conor Chaplin on free transfers, who were ready to step in and add immediate stability.
Looking to boost their attacking options, Leicester signed Liam Cullen from Swansea City, and also brought in winger Wes Burns from Ipswich Town. City then turned to the loan market to add depth, capturing left-winger Tommy Watson from Brighton & Hove Albion, not to mention left-back Christian McFarlane from Manchester City on season-long deals.
In the end, by moving on so many players, and adding carefully chosen new faces, Leicester have arguably put long-term financial survival ahead of chasing immediate success on the pitch. Yet Cullen and Watson, the two players of focus today, both have very different but fascinating backgrounds and potential impacts that Leicester's Blue Army fan base will love getting to know - if they don't already.
A manager's dream and potential signing of season at Leicester City
First up is Liam Cullen, who did face some criticism at times during his time at Swansea. That slack was never about a lack of effort, though: it was more that people felt he should have been getting on the ball and making things happen more often given the ability he has.
Even so, the 27-year-old was universally described as a hugely popular figure by every member of coaching staff he worked with. His former manager, for example, said he was the ultimate professional whether he started the game, played up front, out wide or only came on for the final five minutes: he made even that feel like the most important part of the match.
"Swansea are also losing a dependable performer, one Vitor Matos described as the player "all the coaches love" earlier this year."BBC Sport
Cullen is also a full Wales international, which tells you he has the quality to perform at a very high level. That pedigree and mindset could make him a boss's dream for Russell Martin: being perfectly suited to starring as an impact substitute or stepping straight into the starting line-up.
Tommy Watson on loan to Leicester is already a strong contender for signing of the season.
— The EFL Zone (@TheFLZone) July 30, 2026
Surprised he's not got a Championship club ✍️ pic.twitter.com/4SRbCO6eKW
Tommy Watson, meanwhile, is already being hailed as something of a transfer coup at King Power Stadium. He famously helped Sunderland win promotion to the Premier League via the EFL Championship play-offs, and he already has presumed top-flight quality given that his parent club is Brighton & Hove Albion.
Tommy Watson.
— Second Tier podcast (@secondtierpod) July 31, 2026
From a last minute winner in a play-off final at Wembley to League One in just one season.
Is signing for Brighton really all what it’s cooked up to be? pic.twitter.com/T3wEOTyWPC
Some fans, observers and pundits are already suggesting this may be the best signing on Filbert Way of the summer, though a few others have suggested it might signal a downward turn in his career. At age 20, that second take is completely ridiculous - this writer fully expects Watson to be a revelation during his LCFC tenure.
Everyone laughed at Leicester, but the pull they’re still able to have in LEAGUE 1 is impressive…
— westbrom.fc (@talkwba) July 30, 2026
Top top signing by the Foxes and Russell Martin. #wba #LCFC https://t.co/fjUuQXOasI
