Leicester City up for sale as King Power seeks new ownership
Leicester City have been placed on the market by their Thai owners King Power, with a price tag exceeding £200 million after 16 years at the helm of the East Midlands club, reports BritPanorama.
American investment banking giant Citigroup has prepared an eight-page sales document, branded “Project Lineup,” which is now being distributed to potential purchasers. The Srivaddhanaprabha family acquired the Foxes from Milan Mandaric for £35 million back in 2010. Chairman Khun Aiyawatt “Top” Srivaddhanaprabha has led the club since his father Khun Vichai tragically perished in a helicopter accident outside the ground in 2019.
Initial reports of the sale emerged via the Financial Times in July, but the circulation of this formal prospectus represents the clearest signal yet that new ownership is actively being pursued. The sales brochure encompasses the club’s principal physical assets, which are collectively valued at more than £200 million. Among the headline offerings is the 32,000-capacity King Power Stadium, alongside the Seagrave training complex, which opened in 2020 and carries a valuation of £121 million.
Leicester’s women’s side and Belgian affiliate OH Leuven are also bundled into the package. Citigroup’s document projects the club’s turnover for the 2026 financial year at upwards of £97 million. The prospectus further highlights what it describes as “a rare opportunity to acquire a club with an excellent track record of winning promotions to higher divisions.”
Academy credentials feature prominently too, with the brochure touting a robust talent development system. Notably, youth product Jeremy Monga departed for Manchester City last month in a £10 million deal. Yet the brochure’s portrayal is notably selective. Leicester’s remarkable achievements — the 5,000-to-1 Premier League triumph in 2016 and their FA Cup victory five years on — are given considerable prominence.
The club is positioned as one of merely five sides to have claimed all three major English domestic honours since the turn of the millennium. What the document conspicuously omits, however, is rather telling. Leicester’s current standing in League One, following consecutive relegations from the top flight and then the Championship, receives no mention whatsoever.
Equally absent are the club’s substantial financial difficulties. Between 2023 and 2025, as the Foxes shuttled between divisions with two Premier League demotions in three seasons, accumulated losses surpassed £180 million. Bank loans totalling £103.6 million, as detailed in the 2025 accounts, are similarly left unaddressed.
The club’s precipitous fall from England’s elite to the third tier has fuelled mounting supporter frustration. Vocal protests outside the King Power Stadium greeted last season’s Championship relegation. King Power’s duty-free enterprise in Thailand has itself faced financial strain in recent years, compounding the difficulties surrounding the club.
Just eight months ago, Khun Top publicly accepted responsibility for Leicester’s dramatic decline. Head coach Russell Martin will lead the Foxes into their League One campaign — only the second time in the club’s history they have found themselves at this level — with a trip to Notts County on Saturday.
