The Swede has stabilised a club that was floundering under the guidance of Stuart Pearce and, with the help of a cash injection from former Thai PM Thaksin Shinawatra, helped secure a place in the Premier League top ten.
But with the new owner looking for a more impressive return for his money, it appears that Eriksson will start next season unemployed.
And while the decision to show the former England manager the door is deplorable, the notion that management instability is caused by foreign owners is ill-founded.
Although Roman Abrhamovich had no hestitation in firing the charismatic Jose Mourinho, Randy Lerner has been incredibly patient with Aston Villa’s creeping progress.
While George Gillette and Tom Hicks have aired Liverpool’s dirty laundry in public, the Glazer family have given Sir Alex Ferguson a new lease of life at Manchester United.
It easy to forget that some English owners were incredibly quick to use the boot, Cheshire’s ‘Deadly’ Doug Ellis is known for his hiring and firing and the pre-Thaksin Manchester City board had 16 managers in 22 years.
While everyone agrees that managers should be given more time at the helm, everyone should admit that it is not a question of foreign ownership.