Just after the start of the 2002–03 season, Leicester's relegation (which cost them extensive television revenue) and the cost of their new stadium had created debts in excess of £30 million, and the club went into administration before being taken over by a new owner. Despite this setback, Leicester gained promotion back to the Premiership at the first time of asking, although they slipped back down again after just one season and Adams had since resigned to make way for new manager Craig Levein.