Leicester City start the 2026-27 Sky Bet League One season as title favourites after back-to-back relegations dropped them into the third tier.
The Foxes arrive alongside Sheffield Wednesday and Oxford United, all relegated from the Championship in 2025-26. They replace Lincoln City, Cardiff City and Bolton Wanderers, who went up.
Lincoln were champions in emphatic style, racking up 103 points and 89 goals. Cardiff joined them automatically on 91 points, before Bolton beat Stockport County 4-1 at Wembley to take the final promotion spot through the play-offs.
Who are the favourites to win League One in 2026-27?
| Team | Odds (Sky Bet) |
|---|---|
| Leicester City | 11/4 |
| Sheffield Wednesday | 11/2 |
| Luton | 15/2 |
| Huddersfield | 12/1 |
| Oxford | 12/1 |
| Plymouth Argyle | 12/1 |
| Stockport County | 14/1 |
| MK Dons | 14/1 |
| Bradford City | 16/1 |
| Wycombe Wanderers | 18/1 |
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Leicester City
Leicester’s fall has been steep. Premier League champions in 2015-16, they have now suffered successive relegations, with a six-point deduction contributing to their Championship demise. At 11/4, the market believes their squad and budget are simply too strong for this level, and history backs that view: recently relegated big clubs tend to bounce back from League One quickly.
Sheffield Wednesday
Wednesday’s 2025-26 was a season of crisis. Points deductions left them on zero points at the end of the campaign, with just two wins all season. Yet at 11/2 they are second favourites, a price built on the size of the club and its support rather than last season’s form. Everything depends on how the off-field situation resolves before the season starts.
The chasing pack
Luton, seventh in the third tier last season after their own slide down the divisions, are 15/2 to finally arrest the fall. Stockport will feel they have unfinished business after their Wembley defeat, while Bradford and Stevenage both return after play-off near-misses. Notts County (28/1), Cambridge (50/1) and Bromley (125/1) complete the market among the promoted quartet, with MK Dons the shortest of the new arrivals at 14/1.
How promotion from League One works
The top two clubs in the 24-team division go up to the Championship automatically. The sides finishing third to sixth contest the play-offs, with two two-legged semi-finals and a final at Wembley deciding the third promotion place. Four clubs are relegated to League Two.