Leicester City’s second successive relegation from the Premier League to League One left fans at the King Power Stadium with little reasons to be pleased.

Although the Foxes’ poor financial situation was well reported before the Championship season began in August, few outsiders could have predicted what has happened to the East Midlands outfit since then.

Of course, their relegation was confirmed in late April under Gary Rowett, who was tasked with saving his former club from relegation after the hierarchy fired Marti Cifuentes just months into his contract, as well as a six-point deduction for violating the EFL’s PSR regulations during their title-winning season of 2023/24.

Leicester were relegated from the Premier League three years ago with the division’s most expensive squad, and they are expected to have the biggest pay bill in this season’s Championship at £820,500.

And, while fans were frequently seen criticising several players for their performance levels, the same couldn’t be said for Welsh international Jordan James, who did everything he could in terms of output, scoring 11 goals and four assists in 34 games while also being named the Championship’s Young Player of the Season.

As a result, it is probably not surprising that the Hereford-born playmaker’s signature is already being pursued ahead of the summer transfer window, with another EFL team now posing a threat in this regard.

Fresh Jordan James transfer update comes – Sheffield United and Leeds United will be on red alert.

As a result of Leicester’s relegation to the third division, there has been no mention of James returning to the King Power, which is not surprising to many.

Despite suffering two individual relegations from the Championship to League One in three seasons, James’ potential has been well-documented, and was first demonstrated when French Ligue 1 club Stade Rennais paid a reported £8 million to sign him away from Birmingham City in August 2024.

The 21-year-old initially struggled to adjust to life at Roahzon Park, but began to gain confidence as the 2024/25 season continued, finishing with a record of 25 appearances, one goal, and one assist.

Last month, it was claimed that Sheffield United were keeping an eye on James’ situation, as well as former Leicester loanees Harry Souttar and Hamza Choudhury, and that while the Blades had not done so, another club had made contact with Rennes about a possible move for the 26-time international.

Yorkshire rivals Leeds United have since been linked with the midfielder, but it has now been stated that they face a transfer threat from La Liga club Villarreal.

According to Alan Nixon (via Patreon), the European sides have begun talks about a contract and are hopeful of reaching an agreement on a price soon.

A particular dollar number has not been released, but the ‘Yellow Submarine’ are apparently trying to strike a bargain deal, while James is thought to be drawn to the potential of European play, with the Spanish club finishing third and qualifying for the UEFA Champions League.

Sheffield United may need to go elsewhere once the Jordan James update comes.

A player of James’ calibre would undoubtedly be a welcome addition to Chris Wilder’s side, as the 58-year-old plans a roster overhaul this summer.

It remains to be seen whether United can retain Gus Hamer, with reports indicating that the United manager is interested in moving the 28-year-old back to his preferred ’10’ position, where James flourished for Leicester this season.

However, with Champions League football on the horizon for Villarreal, few could fault James for seizing that particular opportunity at this point in his career, even if regular minutes are not guaranteed initially, with Fabrizio Romano reporting that Rayo Vallecano manager Inigo Perez will replace Marcelino at the Estadio de la Cerámica.