Rangers have formally opened discussions with Leicester City over a potential move for experienced centre-back Conor Coady, as the Foxes begin reshaping their squad following relegation to the Championship.
Coady, who turned 32 in February, only joined Leicester last summer from Wolves, but with financial recalibrations underway at the King Power Stadium, the club may be prepared to move him on. The defender has one year left on his current deal and could be asked to take a wage reduction should he remain in the East Midlands.
Kevin Thelwell, Rangers’ sporting director, is understood to be a key driver behind the interest. The pair previously worked together at Everton, where Thelwell brought Coady in on loan during the 2022–23 campaign. That prior relationship could now prove decisive as Rangers look to bolster their defensive ranks under Russell Martin.
Wage Cut Likely as Rangers Dangle European Football
While Rangers are unlikely to match Coady’s current wages at Leicester, they are able to offer a long-term contract and the chance to compete for silverware and European football—factors that may prove persuasive as the defender considers the next step in his career.
Leicester are understood to be open to negotiations but face a broader issue with wage control as they prepare for life in the second tier. Coady’s leadership and experience would undoubtedly be a loss, but with the club under pressure to rebalance financially, letting him go could be part of a wider trimming of high earners from the squad.
The future of manager Ruud van Nistelrooy, recently linked with Cardiff City and under growing scrutiny, adds further uncertainty to Leicester’s summer strategy.
Writer’s View
This move makes sense on every level. Rangers are acquiring a proven leader and international defender, while Coady gains a platform to compete for honours and possibly extend his career in Europe. For Leicester, it’s a pragmatic solution to a financial challenge—clearing wages and potentially recouping a small fee.
The key will be whether Coady is willing to compromise on salary in return for a new challenge and regular football. At 32, this could be the ideal time for him to embrace a change of scene.
