Thai conglomerate King Power, the current owners of Leicester City, have signalled their intention to sell the club for a price tag exceeding £200 million. According to reports from last month, the former Premier League champions have engaged Citibank to gauge interest among potential investors, and the investment bank has now produced a detailed sales brochure outlining what is on offer.
The document, dubbed "Project Lineup," lists a comprehensive package that includes both the men’s and women’s senior squads, the King Power Stadium, the dedicated training complexes for both genders, and the club’s sister team in Belgium, OH Leuven. The brochure assigns a valuation of £224 million to the physical assets alone, while it does not attach a separate figure to the football operations themselves. In 2023 Leicester City acquired the land surrounding the King Power Stadium with an eye on a major redevelopment.
The plan envisages expanding the stadium capacity to roughly 40,000 seats, adding a new hotel, and creating an entertainment complex that would serve both match‑day visitors and the wider community. Citigroup projects that the club will generate about £97 million in revenue in the 2026 financial year, a figure that reflects the commercial growth expected from those infrastructure projects. The sales pitch, however, glosses over the club’s recent on‑field struggles.
Between 2023 and 2025 Leicester suffered three relegations, dropping from the Premier League to League One, and incurred significant financial losses as a result. Those setbacks are not mentioned in the brochure, which instead highlights the club’s historic achievements. King Power, led by the Srivaddhanaprabha family, originally bought Leicester for £35 million from Milan Mandaric in 2010. Since then they have converted almost £300 million of debt into equity, leaving the club 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 intend to continue funding the club fully 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 third‑tier status. The brochure proudly notes that Leicester is the sixth‑most successful English side since the turn of the millennium, citing their surprise Premier League title in 2016, the FA Cup triumph and Community Shield victory in 2021, and a record of multiple promotions.
It also points to profitable recent transfers such as Ben Chilwell, Harvey Barnes and Kieran Dewsbury‑Hall, and references legendary former players Gary Lineker and Emile Heskey. What is omitted, however, is the current League One placement and the financial strain that accompanies a club without parachute payments. Rob Dorsett of Sky Sports News remarked that it appears paradoxical for King Power to consider selling at a moment when the club’s market value is at a low point. Yet he explained that Aiyawatt Srivaddhanaprabha has been seeking fresh investment for several years, and the glossy brochure simply formalises a process that has been underway for some time.
Dorsett described the sale as a "rare opportunity" because the club is almost entirely debt‑free, owns valuable assets, and boasts a state‑of‑the‑art training ground at Seagrave that rivals many top European facilities. Nevertheless, the club’s fan base is smaller than those of many Championship heavyweights, and the lack of parachute payments in the second tier means any prospective buyer must factor in the risk of a longer promotion journey.
Dorsett cautioned that a quick transaction is unlikely; finding the right purchaser could take years. He also noted that King Power’s continued commitment—evidenced by the summer signings—suggests they will act as responsible custodians even after a sale, and they are unlikely to hand the club over to the highest bidder purely for profit. The legacy of the late Vichai Srivaddhanaprabha, who died in a helicopter crash at the stadium in 2018, looms large over any decision. His son, often referred to as "Khun Top," appears determined to ensure that any new owner can honour that legacy and restore Leicester City to its former heights.
In summary, Leicester City is being marketed as a valuable, largely debt‑free football property with a rich trophy cabinet and ambitious development plans. While the on‑field situation is challenging, the combination of owned infrastructure, a historic brand, and a clear pathway for commercial growth makes the club an intriguing prospect for investors willing to navigate the complexities of English lower‑league football. The sale process is expected to be deliberate, with King Power aiming to secure a buyer who can both respect the club’s heritage and deliver sustainable success in the future.