Thai conglomerate King Power, the current owners of Leicester City, have signalled their intention to sell the club for a price exceeding £200 million. The former Premier League champions have been working with Citibank to gauge interest from prospective investors, a development first reported last month.
Sky Sports News has now obtained a sales‑prospectus prepared by the investment bank, which outlines the assets on offer and highlights the strategic value of the package. According to the dossier, the sale would encompass not only the men’s and women’s senior squads but also the King Power Stadium, the training complexes for both genders, and the club’s sister team in Belgium, OH Leuven. The memorandum, dubbed “Project Lineup,” assigns a valuation of £224 million to the physical infrastructure, while it does not attach a separate figure to the football operations themselves.
In 2023 the Foxes acquired the land surrounding their home ground with an eye on a major redevelopment scheme. The plan envisions expanding the stadium’s capacity to roughly 40,000 seats, adding a boutique hotel and an entertainment hub that would generate ancillary revenue streams.
Citigroup projects that the club will generate about £97 million in revenue in the 2026 financial year, a figure that reflects both match‑day earnings and the anticipated commercial upside from the redevelopment. The prospectus, however, omits mention of the club’s recent on‑field struggles – three relegations between 2023 and 2025 that have seen Leicester tumble to League One, the third tier of English football, and the accompanying financial shortfalls. King Power, led by the Srivaddhanaprabha family, originally purchased Leicester for £35 million from Milan Mandaric in 2010.
Since then they have largely eliminated the club’s debt, converting nearly £300 million of liabilities into equity, leaving the organization virtually debt‑free aside from modest maintenance loans. Sky Sports News has been told that King Power does not feel any urgency to complete a sale. The owners have pledged to continue funding the club at full capacity until a credible buyer emerges. This summer they backed head coach Russell Martin with a nine‑player recruitment drive, signalling a willingness to invest in a rapid return to higher divisions.
The document also touts Leicester’s pedigree since the turn of the millennium, ranking the Foxes as the sixth‑most successful English side in that period. It highlights the club’s historic 2015‑16 Premier League triumph, the 2021 FA Cup win, and the Community Shield victory the same year, presenting the package as a "rare opportunity" to acquire a club with a proven record of earning promotions. Notably, the sales pitch glosses over the current League One status, focusing instead on past glories and profitable recent transfers involving players such as Ben Chilwell, Harvey Barnes and Kieran Dewsbury‑Hall. Former stars Gary Lineker and Emile Heskey are also referenced to reinforce the club’s illustrious heritage.
Rob Dorsett of Sky Sports News commented on the situation, describing the timing as "bizarre" given Leicester’s low market value after successive demotions. He noted that Aiyawatt Srivaddhanaprabha has been seeking fresh investment for several years, and the glossy brochure merely formalises a process that has been underway. Dorsett suggested that the brochure is concrete evidence that an era may be ending, with King Power potentially stepping aside after delivering an unprecedented Premier League title, an FA Cup, Champions League football and a Community Shield. He also warned that while the club’s assets are attractive – debt‑free, fully owned stadium and training facilities that rival many top‑flight clubs – the fan base is smaller than that of many Championship powerhouses.
Moreover, dropping into the third tier means any immediate promotion would not be cushioned by parachute payments, a factor that prospective buyers will weigh heavily. Despite the challenges, Dorsett believes a swift sale is unlikely. The right purchaser may take years to surface, and King Power appears committed to safeguarding its legacy.
Their recent nine‑player signings demonstrate continued support, and the goodwill the Thai owners hold for Leicester suggests they will not simply sell to the highest bidder. The late Vichai Srivaddhanaprabha, whose tragic helicopter crash in 2018 left a profound mark on the club, is remembered by his son Khun "Top" Aiyawatt, who is said to be mindful of the family’s legacy. Any future owner will be expected to honour that legacy by restoring Leicester City to its former heights and perhaps achieving another period of sustained success.