Ranieri is someone that has usually improved the standing of the teams he's coached. His record with Chelsea was very good; before and after the Abramovich millions poured in. I believe he's got the sixth best win percentage of any Premier League manager with more than a 100 matches (behind Mourinho, Ferguson, Wenger, Benitez and Mancini).
It's a gamble though. He's been out of England for a long time so who knows how he'll get on with the challenge of the upcoming season. I hope that both Steve Walsh and Esteban Cambiasso stick around for continuity purposes and to help him to adjust. Apparently, he visits England with his wife regularly and travels the country looking for antiques. He's a big fan of Lincolnshire sausages and the market in Newark.
Ultimately, if he fails it will be pretty obvious quite soon so we could see Allardyce in on a rescue mission before December. If it works out, he could well deliver exactly what the owners want. To spend the next couple of years overseeing us grow as a club into one that is solid and stable in the Premier League and aspiring to get better players and achieve more. He could leave us one day bigger, stronger and as a mini-legend.
I'd say it's 50/50 which way it will go. But that's exactly what this decision is; a gamble. For some reason, I've always inter-changed Ranieri and Benitez as managers. I think they've got four or five clubs in common and I've often thought of them as very similar in terms of ability and credibility. Funny that this summer one is appointed at Real Madrid whilst the other is appointed at Leicester.
That alone tells me that times are changing for us. Good luck CR, welcome aboard.