The Thai conglomerate King Power, which has owned Leicester City since 2010, is now exploring the possibility of selling the club for a price that exceeds £200 million. According to reports, the former Premier League champions have engaged the services of Citibank to gauge interest from potential investors.
Sky Sports News has obtained a confidential sales brochure prepared by the investment bank, which outlines the assets that would be included in any transaction. The memorandum, dubbed “Project Lineup,” lists a comprehensive package: both the men’s and women’s first‑team squads, the King Power Stadium, the training complexes for the men’s and women’s sides, and the club’s Belgian sister team, OH Leuven. The brochure assigns a valuation of £224 million to the physical assets, although it does not attach a separate figure to the football operations themselves. In 2023 Leicester City acquired the land surrounding its stadium with an ambitious redevelopment plan in mind.
The scheme envisions expanding the ground’s capacity to roughly 40,000 seats, adding a new hotel, and creating an entertainment precinct that would serve both supporters and the wider community. Citigroup projects that the club’s revenue for the 2026 financial year will be about £97 million. The sales document, however, glosses over some recent hardships.
It makes no mention of the two relegations the Foxes suffered between 2023 and 2025, nor the accompanying financial losses. King Power, led by the Srivaddhanaprabha family, originally bought Leicester for £35 million from Milan Mandaric in 2010. Since then the owners have converted nearly £300 million of debt into equity, leaving the club essentially debt‑free apart from modest maintenance loans.
Sky Sports News has been told that King Power does not feel any urgency to complete a sale. The owners intend to continue funding the club at full capacity until a credible buyer emerges.
This summer they backed head coach Russell Martin with nine new signings, demonstrating a willingness to invest in the squad despite the club’s current League One status. The brochure highlights Leicester’s pedigree since the turn of the millennium, positioning the club as the sixth‑most successful English side in that period.
It points to a series of achievements that include the miraculous 2015‑16 Premier League title, the 2021 FA Cup triumph, and the 2021 Community Shield victory. These honours are presented as a “rare opportunity” to acquire a club with a proven record of winning promotions and competing at the highest level.
Notably absent from the pitch is any reference to the Foxes’ present position in the third tier of English football. The document does cite recent profitable transfers such as Ben Chilwell, Harvey Barnes and Kieran Dewsbury‑Hall, and it mentions legendary former players Gary Lineker and Emile Heskey as part of the club’s rich heritage.
When approached for comment, Leicester City declined to respond. Sky Sports’ Rob Dorsett summed up the situation: on the surface it appears odd that King Power would consider selling when the club is at a historic low in both league standing and market valuation.
Yet the owner, Aiyawatt Srivaddhanaprabha, has been seeking fresh investment for several years, and the glossy brochure signals a formal step toward a potential exit. Dorsett emphasized that the sale brochure is concrete evidence that an era may be ending.
King Power has overseen an unprecedented period of success, delivering a Premier League crown that few believed possible, an FA Cup, a Community Shield, and a brief spell in the Champions League. However, recent setbacks—including three relegations in four seasons—have sparked protests against the ownership and the director of football, Jon Rudkin. Critics argue that mismanagement has cost the club dearly, pushing it into League One despite its previous proximity to breaking the “Big Six” dominance.
Despite the turmoil, the club remains an attractive proposition for the right buyer. Its assets are largely debt‑free thanks to the owners’ conversion of nearly £300 million of liabilities into equity. The King Power Stadium and the Seagrave training ground are owned outright and are considered superior to many facilities possessed by larger Premier League clubs.
Nevertheless, the club’s fan base is smaller than that of many Championship heavyweights, and dropping into the third tier means any promotion would not be accompanied by parachute payments from the second division. All of these factors will weigh heavily on prospective investors, and Dorsett cautioned that a quick sale is unlikely. It could take years to locate a purchaser who appreciates both the club’s historic achievements and the challenges it now faces. For Leicester supporters, there is some reassurance: King Power has indicated that it will not abandon its custodial responsibilities simply because it has put the club on the market.
The nine new signings this summer illustrate a continued commitment to the team, and the goodwill the Thai owners have cultivated over more than a decade suggests they will seek a buyer who can sustain the club’s legacy rather than merely chase a short‑term profit. In memory of the late Vichai Srivaddhanaprabha—who tragically died in a helicopter crash at the stadium’s car park—the current chairman, often referred to as “Khun Top,” is said to be mindful of his father’s legacy. He is expected to look for an owner capable of restoring Leicester City to its former heights, ensuring that the Foxes once again become a force to be reckoned with in English football.