The chairman of the Leicester City Independent Supporters' Association believes that Micky Adams would be making a sideways move by returning to Southampton as manager.
Lance Tomlyn said: "If we stay up, who's to say we won't be as attractive a club to manage?
"Clubs like Leicester and Southampton are a much of a muchness and, if we get our finances right and he gets some money to spend, we'll be as big a club as Southampton."
Adams, who became a crowd favourite during his five years as Saints' left back, is under contract at the Walkers Stadium until 2007.
But the small print includes a clause saying that he is free to leave for a compensation package of around £200,000.
But Tomlyn added: "I think he would fulfil his contract even if we went down.
"Micky Adams is an honest Yorkshireman and a very honourable bloke and I can't see him taking another job when he's under contract to us.
"He seems quite dedicated to the job he's doing now.
"He's done as good a job as Martin O'Neill did for us in his 18 months here and, if he went, it would probably seal our relegation.
"Since he's been our manager's he's sold £10m worth of talent and his signings have all been free transfers, so I can understand the link with Southampton.
"But Leicester fans would be devastated and I don't think the board would let it happen.
"He was treated badly at Fulham and promises weren't kept when he was at Brighton - the only thing that would send him away would be if the Leicester board did something completely out of order but I can't see that happening."
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