Relegated teams come with Premier League experience and parachute payments, while ambitious clubs seek to upset the balance. Every club faces challenges—ranging from financial issues and managerial changes to squad depth and expectations.
The road to promotion is rarely smooth, and this year will be no different.
Here’s a club-by-club overview of the promotion contenders, focusing on summer transfers, ownership, budgets, and each club's wider expectations.
Leicester
Leicester returns to the Championship under challenging circumstances. Their relegation from the Premier League was followed by managerial changes, with Marti Cifuentes now responsible for stabilizing a squad that has lost several experienced players.
The club's ownership under Aiyawatt Srivaddhanaprabha faces criticism from fans after a summer without significant signings and key departures, including Jamie Vardy.
Promotion odds remain decent, but with financial worries and potential points deductions, Leicester's future is uncertain.
As of this summer, Leicester has made only one confirmed signing: defender Woyo Coulibaly from Parma for around £3 million. Meanwhile, 11 players were released, including club legends Vardy, goalkeeper Danny Ward and Daniel Iversen.
The drop in turnover suggests financial caution rather than ambition.
The expectation is clear: immediate promotion. However, instability at the board and supporter levels, minimal recruitment, and a depleted squad make Leicester a long shot unless they quickly address their home scoring issues.
Ipswich
Ipswich's brief stint in the Premier League ended with quick relegation, but confidence in manager Kieran McKenna remains strong.
Last season, Ipswich invested heavily—over £120m including commercial signings like Liam Delap (£20m)—yet still faced relegation.
Nevertheless, the squad remains largely intact, bolstered by the addition of veterans Ashley Young and David Button on free transfers, along with Azor Matusiwa from Rennes and defensive reinforcements like Cedric Kipre.
Ipswich's stability and collective strategy position them as leading contenders for promotion, and expectations will be high.
If they can find a consistent goal scorer to replace Delap, their promotion credentials appear strong.
Southampton
Southampton embarks on another Championship campaign with the goal of an immediate return to the top division.
Will Still has been appointed to lead a club that spent most of the summer focused on selling rather than buying, achieving a net profit in the transfer market.
With a restructured squad and parachute payments still coming in, expectations remain high, though the need for emerging talents to step up is evident.
Departures have generated revenue, but reinvestment has been minimal.
The expectation is that the Saints will be in contention for promotion, supported by their infrastructure and parachute income.
Still, with a reshaped squad and reliance on youth, early adaptability will be crucial for their success.
Sheffield United
Sheffield United has come close in recent seasons and enters this season with a stable group, now led by Ruben Selles.
There have been no significant marquee signings at this point, but also few major departures, indicating the Blades are content to rely on experience and continuity.
After experiencing play-off heartbreak last time, automatic promotion is the stated goal, although much hinges on whether the core squad can stay fit and consistent.
The roster is aging, and limited depth poses risks during what is typically a demanding season.
Birmingham
Birmingham arrives following a record-breaking League One title, bringing energy and confidence into the new season.
Gary Rowett's side boasts abundant attacking options, with exciting forward Jay Stansfield joined by new signings Kyogo Furuhashi and Demarai Gray.
The Blues appear better equipped than most newly promoted teams, thanks to their star-studded American ownership, including NFL legend Tom Brady, and could still look to strengthen in January if necessary.
While bookmakers remain cautious, Birmingham's dominant form from last season—when they set the Football League record for most points in a season with 111—and squad depth could position them as serious contenders for back-to-back promotions.
Coventry
Frank Lampard's Coventry squad aims to build on last season's unsuccessful play-off run.
Summer transfer activity has been somewhat limited, with only a few signings made this summer, highlighted by right-back Kaine Kesler-Hayden for a reported £4m from Aston Villa.
However, additions like England U21 Matt Grimes in January have already enhanced the quality of a team anchored by Jack Rudoni in midfield and Haji Wright in attack.
A full summer training camp with a relatively settled squad could be all that Lampard's side needs to launch a serious promotion challenge.
Coventry's stability and clear direction under Lampard should keep them in the play-off conversation, at the very least.
What the bookmakers say
Ipswich (4/1) and Southampton (11/2) are the bookmakers' early favourites, with Birmingham (15/2), Sheffield United (17/2), Coventry (14/1), and Leicester (14/1) also in contention.
Honourable mentions and teams to watch include West Brom and Watford.
At the same time, Middlesbrough, Norwich and Hollywood wildcards Wrexham complete a field that, as always, raises more questions than answers, and could look entirely different after just a few matches.
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