Claudio Ranieri's 'Foxes' produced one of the greatest shocks in sporting history when they defied odds of 5000/1 to lift the Premier League title, largely thanks to the performances of the likes of Riyad Mahrez, Jamie Vardy and N'Golo Kante.
Now, Watford fans are dreaming or a similar achievement after winning their first four games of the new campaign, helping Gracia to the August Manager of the Month award.
Unlike many managers, Gracia opted not to play down his side's achievements so far, insteading opting to compare his side to Leicester.
"We have started so well in the Premier League that we can be considered the new Leicester," Gracia told English publication 'The Sun'.
"I am not scared of the comparison between Leicester and Watford. I am always going to live with the same naturalness after winning four games in a row and after losing four.
"It is possible to lead the table after four games, although it will be a lot more different after 25.
"Even if we played in Spain, it would be difficult. We have to enjoy and savour this moment because we have worked for it and earned it.
"I am very excited with the atmosphere we have now within the club, the team and the supporters. It is great.
"Watford is a team that has finally secured and cemented a place in the Premier League. Before it was going up and down the whole time: now it is here to stay."