The Italian mentor was dumped shortly after the Foxes were beaten 2-1 by Sevilla in the first leg of their Champions League round of 16.
The decision has split the footballing community with some believing his poor performance in the Premier League this season justified the sacking, while others feel his heroics in the winning the title last season should have afforded him more time.
However, one nasty aspect of the whole saga is the rumours that the playing squad had an influence in the decision to get rid of Ranieri, although that is increasingly being revealed as media sensationalism.
Goalkeeper Kasper Schmeichel was the first player to pay tribute to the departed manager, followed by Wes Morgan and Riyad Mahrez, and now Vardy has also denied he played any part in the decision.
“I must have written and deleted my words to this post a stupid amount of times. I owed Claudio to find the right and appropriate words,” he wrote on Instagram.
“Claudio has and always will have my complete respect! What we achieved together and as a team was the impossible! He believed in me when many didn’t and for that I owe him my eternal gratitude.
“There is speculation I was involved in his dismissal and this completely untrue, unfounded and is extremely hurtful!
“The only thing we are guilty of as a team is underachieving which we all acknowledge both in the dressing room and publicly and will do our best to rectify. I wish Claudio the very very best in whatever the future holds for him. Thank You Claudio for everything.”