Leicester were relegated from the Premiership despite managing a battling draw with Charlton.
Marcus Bent gave Leicester hope when he chipped home the opener, but Jonathan Fortune headed the equaliser.
Charlton took the lead after Jonatan Johansson won a penalty, offender Nikos Dabizas was sent off and Paolo di Canio slotted in the spot kick.
Les Ferdinand struck back in the dying moments with a superb free kick, but it was not enough to save Leicester.
It had all started so well for the visitors when Bent's hopeful lob from the edge of the box left Charlton keeper Mark Crossley stranded.
It was the perfect start for Leicester, although they were also relying on Manchester City faltering against Newcastle.
And the Foxes managed to keep Charlton at bay for the best part of an hour as both sides found inspiration hard to come by.
5 mins: Bent's hopeful lob puts Leicester ahead
53 mins: Fortune pulls Charlton level
76 mins: Dabizas sent off, Di Canio puts Charlton ahead with a penalty
88 mins: Ferdinand equalises for Leicester
Passes frequently went astray as a nervous Leicester side looked to hold on to their advantage - but looked unlikely to build on it.
Charlton's first half-performance demonstrated why their recent results have been so poor.
They were hesitant and lacking cohesion and only Di Canio looked as though he may create an opening.
Leicester saw headers by Matthew Heath and Paul Dickov flash wide before Charlton finally produced their first serious threat on goal on 40 minutes.
Johansson found space behind the defence but Ian Walker made a smart save low to his right.
After the break the home side raised their game and the tempo of the match - and they deservedly got their reward.
Leicester folded under pressure when Fortune levelled the scores.
And it went from bad to worse for Leicester as Dabizas was dismissed by referee Rob Styles after what had looked minimal contact on Johansson.
Di Canio coolly dispatched the resulting penalty.
And though Ferdinand managed to equalise with a well-struck dead ball, it was not enough to keep Leicester up as City had beaten Newcastle.
Charlton: Kiely, Young, Fortune, Hreidarsson, Powell, Stuart,
Holland, Euell, Konchesky (Thomas 45), Di Canio (Perry 87),
Subs Not Used: Royce, Kishishev, Hughes.
Booked: Di Canio.
Leicester: Walker, Sinclair, Dabizas, Heath, Stewart,
Canero (Ferdinand 72), Freund (McKinlay 58), Izzet, Scowcroft,
Bent, Dickov (Guppy 78).
Subs not used: Gillespie, Nalis.
Sent Off: Dabizas (74).
Referee: R Styles (Hampshire).