Thai investors King Power are reportedly looking to offload Leicester City for a price tag exceeding £200 million. The club, which once lifted the Premier League trophy, has been quietly exploring the market with the help of Citibank, according to reports from last month. Sky Sports News has now obtained a sales‑brochure prepared by the investment bank that outlines the deal structure and lists the assets that would be transferred to a new owner.
The memorandum, titled “Project Lineup,” enumerates a comprehensive package: both the men’s and women’s senior squads, the King Power Stadium, the separate training complexes for the men’s and women’s teams, and the Belgian side OH Leuven, which functions as Leicester’s sister club. The brochure assigns a valuation of £224 million to the physical infrastructure, although it does not attach a separate figure to the football operations themselves. In 2023 the Foxes’ owners purchased the land surrounding the stadium with an eye on a major redevelopment programme.
The plan envisions expanding the ground’s capacity to roughly 40,000 seats, adding a modern hotel and an entertainment precinct that could generate ancillary revenue streams. Citigroup’s financial model projects that the club will generate about £97 million in revenue for the 2026 fiscal year.
The document, however, glosses over the club’s recent on‑field decline. Between 2023 and 2025 Leicester suffered two relegations, dropping from the Premier League to League One, and the associated financial shortfalls are not mentioned.
King Power, the Thai conglomerate run by the Srivaddhanaprabha family, originally bought the club for £35 million from Milan Mandaric in 2010. Over the past few years the owners have converted nearly £300 million of debt into equity, leaving the club essentially debt‑free apart from modest maintenance loans.
According to Sky Sports News, King Power does not feel any pressure to complete a sale immediately. The owners have pledged to continue funding the club at full capacity until a credible buyer emerges. They have already backed head coach Russell Martin with a nine‑player recruitment drive this summer, signalling a willingness to invest despite the club’s current League One status.
The sales pitch highlights Leicester’s pedigree since the turn of the millennium, branding the club as the sixth‑most successful English side over that period. It points to a track record of gaining promotion, a surprise Premier League title in 2016, an FA Cup triumph and a Community Shield win in 2021. These achievements are presented as a "rare opportunity" for a prospective investor to acquire a club with a proven ability to win trophies and climb the league ladder. Notably, the brochure omits any reference to the team’s present position in the third tier.
The dossier also lists recent profitable transfers such as Ben Chilwell, Harvey Barnes and Kieran Dewsbury‑Hall, and cites former internationals Gary Lineker and Emile Heskey as marquee alumni. Sky Sports News reached out to Leicester City for comment, but the club declined to respond. Rob Dorsett of Sky Sports News summed up the situation: "On paper it looks odd that King Power would consider selling at a time when the club is at its lowest market value, sitting in League One after three relegations in four seasons. Yet Aiyawatt Srivaddhanaprabha has been seeking fresh investment for years; the glossy brochure simply makes the sale process public.
It is concrete evidence that an era may be ending." Dorsett continued, noting that the owners have already delivered an unprecedented Premier League title, an FA Cup, Champions League participation and a Community Shield. Recent failures, he said, have sparked protests against the ownership and the director of football, Jon Rudkin. Mistakes in recent years have seen the Foxes tumble into the third tier, despite earlier ambitions to break the "Big Six" monopoly.
He cautioned fans that, while the club is an attractive proposition—almost debt‑free thanks to King Power’s equity conversion and possessing fully owned assets that rival those of larger Premier League clubs—its fan base is smaller than those of many Championship heavyweights. Moreover, dropping into League One means the club would not benefit from parachute payments should it win promotion back to the Championship. Dorsett concluded that a quick sale is unlikely; finding the right buyer could take years. Nevertheless, King Power appears committed to acting as custodians for the foreseeable future.
The nine new signings this summer demonstrate ongoing support, and the goodwill the Thai owners have cultivated suggests they will not simply sell to the highest bidder. "Khun ‘Top’"—Aiyawatt—remembers his late father, who perished in a helicopter crash at the stadium car park, and is said to be looking for an owner who can restore Leicester to its former glory rather than just make a profit.
In summary, Leicester City is on the market with a package valued at over £200 million, encompassing stadium, training facilities, a sister club and both senior teams. The club’s storied past, debt‑free balance sheet and ambitious redevelopment plans make it a compelling, if complex, investment.
Prospective buyers will need to weigh the club’s recent relegations, modest fan base and lack of parachute payments against the upside of owning a historically successful English football institution with world‑class infrastructure and a passionate local following.