On Saturday, The Times named Jamie Vardy as one of the players who was summoned to a meeting with Leicester owner Vichai Srivaddhanaprabha prior to Wednesday night's Champions League game against Sevilla.
Along with Kasper Schmeichel, Wes Morgan and Marc Albrighton, Vardy was apparently asked for his observations regarding the team's decline following last season's title-winning campaign.
The meeting is said to have sealed Ranieri's fate.
On Instagram last night, Vardy responded to the reports, calling the speculation that he was involved in the Italian's sacking as being 'completely untrue'.
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! 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 is 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.
Speaking to Sky Sports on Saturday, Kasper Schmeichel called reports that players influenced the decision to sack Ranieri a 'serious accusation'.
This is a serious accusation. Something that is very hurtful. I do not have any power to influence our owners.
I am upset as these reports as anyone. They are deeply hurtful. For me to read these things, it is ridiculous to think that any player has the influence or power to make decisions. It is ridiculous.