Fulham have sacked manager Slavisa Jokanovic and replaced him with former Chelsea and Leicester boss Claudio Ranieri.

Jokanovic leaves with the Cottagers bottom of the Premier League table with five points from 12 matches, having lost their last seven games in all competitions.

Italian Ranieri, 67, who memorably led Leicester to the title in 2016, has been given a "multi-year" contract by the London club, the Fulham have announced.

"It is an honour to accept (chairman) Mr (Shahid) Khan's invitation and opportunity to lead Fulham, a fantastic club with tradition and history," Ranieri told the club's official website.

"The objective at Fulham should never be to merely survive in the Premier League. We must at all times be a difficult opponent and should expect to succeed.

"This Fulham squad has exceptional talent that is contrary to its position in the table. I know this team is very capable of better performances, which we will work on straight away as we prepare for Southampton at the Cottage."

Jokanovic took charge in December 2015 and led Fulham to the Championship play-offs in two consecutive seasons, getting the club promoted back to the Premier League last term following a 1-0 win against Aston Villa at Wembley.

Khan thanked the 50-year-old for his work at the club.

"I wasn't anticipating having to make this announcement related to Slavisa and wish the circumstances were such that I didn't have to, but our path this season has led me to make what I know is the correct decision, at the right time, for our players, the club and our supporters," said the Fulham chairman.

"Slavisa will always have my appreciation and respect for everything he did to return Fulham to top-flight football. I am hoping everyone in the Fulham Family shares my heartfelt sentiments for Slavisa and joins me in wishing him success and good fortune, wherever his next stop may be."

Ranieri's first game in charge will be after the current international break on November 24 when Fulham host fellow strugglers Southampton at Craven Cottage.

He will then face former clubs Chelsea and Leicester in successive games.