Thai conglomerate King Power, the current owners of Leicester City, have announced that they are looking to divest the club for a price tag exceeding £200 million. The move follows a recent engagement with Citibank, which has been tasked with gauging interest among potential investors.
According to a sales brochure that Sky Sports News obtained, the investment bank has prepared a detailed prospectus outlining the assets that would be transferred to a new proprietor. The dossier, dubbed “Project Lineup,” enumerates a comprehensive package: both the men’s and women’s senior squads, the King Power Stadium, the training complexes for each gender, and the club’s sister team in Belgium, OH Leuven.
The brochure assigns a valuation of £224 million to the physical infrastructure, though it does not attach a specific figure to the football operations themselves. In 2023 Leicester City acquired the land surrounding its home ground with an eye toward a major redevelopment scheme.
The plan envisions expanding the stadium’s capacity to roughly 40,000 seats, adding a boutique hotel, and creating an entertainment hub that would serve fans and the broader community. Financial projections from Citigroup suggest that the club could generate about £97 million in revenue in the 2026 fiscal year, a figure that underscores the commercial potential of the venue and its ancillary facilities. The prospectus, however, omits a critical part of the recent narrative: Leicester’s double relegations between 2023 and 2025, which have plunged the side into League One and resulted in substantial financial shortfalls. The club’s history under King Power began in 2010 when the Srivaddhanaprabha family purchased Leicester for £35 million from Milan Mandaric.
Over the ensuing years they converted nearly £300 million of debt into equity, effectively rendering the club almost debt‑free aside from modest maintenance loans. Despite the current turmoil, Sky Sports News reports that King Power is not in a hurry to sell.
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 on‑field performance even as the club navigates its lowest point in recent memory. The brochure highlights Leicester’s status as the sixth‑most successful English side since 2000, emphasizing a track record of achieving promotions and winning major trophies.
The club’s fairy‑tale Premier League triumph in 2016, followed by an FA Cup and Community Shield double in 2021, are prominently featured. Yet the document conspicuously leaves out the present League One standing, a fact that could temper enthusiasm among prospective purchasers.
Recent profitable transfers—such as Ben Chilwell, Harvey Barnes and Kieran Dewsbury‑Hall—are cited as evidence of the club’s ability to generate revenue through player sales. Legendary figures like Gary Lineker and Emile Heskey are also mentioned to reinforce the club’s storied heritage. Rob Dorsett of Sky Sports News commented on the situation, noting the apparent paradox of King Power seeking a sale while the club languishes at a historic low in both performance and market value.
He explained that Aiyawatt Srivaddhanaprabha has been looking for fresh investment for several years, and the glossy brochure merely formalises an ongoing marketing effort by financial specialists. Dorsett described the brochure as “concrete evidence of a looming end of an era,” suggesting that the Thai owners are ready to step aside after delivering an unprecedented Premier League title, an FA Cup, a Community Shield, and even a stint in the Champions League.
Fan sentiment has been mixed. Some supporters feel that recent mismanagement—particularly under director of football Jon Rudkin—has tarnished the glory of the past decade, leading to protests and calls for accountability. Dorsett warned that while the club’s assets are attractive—being virtually debt‑free and possessing world‑class training facilities such as the Seagrave complex—its fan base is smaller than that of many Championship heavyweights. Moreover, a swift promotion back to the Championship would not bring parachute payments, a financial safety net that larger clubs often rely on.
Given these variables, Dorsett predicts that a sale could take years to materialise. He reassures Foxes fans that King Power will likely remain custodians for the foreseeable future, pointing to the nine new signings as proof of continued commitment. The owners’ goodwill, he argues, means they will not simply accept the highest offer but will seek a buyer capable of honouring the club’s legacy and steering it back to success. The emotional dimension is also significant.
Aiyawatt’s father, Vichai Srivaddhanaprabha, died tragically in a helicopter crash at the King Power Stadium in 2018. The family’s deep personal connection to Leicester may influence the choice of a successor who can uphold the values and community spirit that the late chairman championed. In summary, Leicester City is on the market with a package valued at over £200 million, encompassing stadium, training facilities, both senior squads, and a Belgian sister club. While the club’s recent on‑field failures and financial setbacks are not highlighted in the sales material, they remain a reality that any buyer will need to address.
The combination of debt‑free status, high‑quality infrastructure, and a storied trophy cabinet makes the Foxes a rare, albeit complex, investment opportunity. Potential investors will have to weigh the upside of owning a club with a proven ability to achieve remarkable success against the challenges of reviving a team currently stranded in the third tier of English football.