Now Reading: Leicester City put up for sale by Thai owners after relegation to League One
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Leicester City put up for sale by Thai owners after relegation to League One
Leicester City put up for sale by Thai owners after relegation to League One
King Power, the Thai owners of Leicester City, have hired a leading US investment bank to find a buyer for the club, the BBC reported. The club's assets are listed at more…
The Story in Brief
King Power, the Thai owners of Leicester City, have hired a leading US investment bank to find a buyer for the club, the BBC reported. The club's assets are listed at more than £200 million ($269 million). Leicester, who famously won the Premier League in 2016 and the FA Cup in 2021, will play in League One this season after two successive relegations.
The club was also docked six points last season for breaching the Football League's profit and sustainability rules. Aiyawatt Srivaddhanaprabha took over as chairman after his father Vichai died in a helicopter crash outside the stadium in 2019. Leicester kick off their League One campaign against Notts County on Saturday.
The Indian Opinion
Some observers frame Leicester's collapse as a tragic fall from grace, but the club's financial recklessness is the real story. Chasing Premier League survival with unsustainable spending led to point deductions and relegation. The owners, who bought the club for £35 million a decade ago, now hope to sell at a huge profit despite the mess. The real test will be whether any buyer pays £200 million for a third-tier team with mounting debts.
Sources (2): hindustantimes.com, sportstar.thehindu.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
