Ranieri is less than a year removed from leading Leicester to the Premier League title, but their recent woeful form led the club to issue a statement of "unwavering support" last week.

The Times reported on Tuesday that Leicester had vowed not to sack the coach before the end of the season, though former England striker and current BT Sport television host Lineker said not even relegation should cost Ranieri his job.

"I would give him a job for life, but this is football," Lineker told multiple English newspapers. "Even if they went down, it would leave a bad taste in the mouth if he was sacked after everything he did for the club last season and the way he handled everything. I would find it terribly sad."

Lineker famously hosted the BBC's Match of the Day in his underwear to follow through on a vow after Leicester's unlikely title run, and he said relegation a year later would only make last year's feat more impressive.

"Even if they go down, it makes the legend even greater," Lineker said. "If they go from staying up, after being on the brink of relegation, to champions the following season and going down the next, it almost improves the miracle of winning the title.

"It's still the most staggering, astounding thing that's ever happened. If you were to say to any Leicester fan, 'We'll take away the title in exchange of 10 years of mid-table safety,' they would all say 'No, it's fine -- we'll just get relegated.'

"This is the reality; this is the price of living the dream and the miracle. Fans will always worry about their team, and it's not been as much fun for Leicester this year, that's for sure.

"But to have lived through what happened last year was magical, and if that means the knock-on effect has been difficult, so be it."

Leicester begin their Champions League knockout round expedition next week against Sevilla, but Lineker isn't very hopeful against the reigning Europa League champions.

"I don't give them much chance in the Champions League -- it's just about the worst draw Leicester could have got in many ways," Lineker said. "You either want a giant or a team you've got a real chance of beating, and what they have got is neither.

"Sevilla are a really good side with a real pedigree in Europe, and it's going to be very difficult for Leicester the way they are playing, but at least it's a nice place to visit and a lot warmer than over here."