Just by looking at the managers face in games, it appears something was amiss. It looked as if he appeared resigned to accept (for the time being) things way out of his control.
Basically when they were getting beat he did not appear to be too concerned and in potential fact looked bemused.

It's possible that the owner is pulling the buying strings. A sort of ownership lucky bag buy. The last of the big spenders of new owners, kind of thing.

In my opinion they've lost a good manager and replaced him with some kind of gimmick of a manager to put Fulham on the premier league map.
Q.P.R tried that trick and look what happened to them worth all their gimmicks.

It'll be interesting to see how much money Ranieri's handed and how he sets up....or is allowed to.