adminLeicester City’s uncertain future under King Power looks set to rumble on as the Thai owners continue to search for potential buyers of the football club.
News of a potential change in ownership at the King Power Stadium first emerged in July, with the Srivaddhanaprabha family working with Citigroup to sound out buyers. Despite supposedly seeking out bidders, King Power funded City’s summer spending with 16 new players brought in for Russell Martin.
Aiyawatt ‘Top’ Srivaddhanaprabha has returned to England a couple of times this season to watch Leicester in action. However, the Thai owners are reportedly still keen on completing a sale, although the identity of any serious bidders remains unclear.
So, what’s the latest and what do we know so far? Here, we bring you all you need to know so far on the potential takeover in LE2.
According to Sky News, the owners have set a deadline of Friday, October 16, for potential bidders to submit offers. The deadline is said to have been pushed back to accommodate other parties, with there understood to be sincere interest in the football club.
It was originally reported that clubs were given a deadline of October 14 to submit their bids, a date that came after a previous deadline of September 14.
At the latest Fan Advisory Board (FAB) meeting, which took place on Wednesday, September 16, fan representatives raised concerns over the club’s lack of clarity regarding a potential change of ownership.
In the meeting’s notes, club representatives, including chief executive Kevin Davies, explained the current situation and assured supporters that King Power continues to provide financial support to the club.
“The FAB discussed the ongoing media speculation regarding the ownership of the Club,” read the introduction of the meeting notes. “Club representatives acknowledged the significance of the subject to supporters and explained that ownership matters are ultimately for shareholders.
“Those present were therefore not in a position to confirm or comment on individual reports or speculation.
“Fan representatives expressed frustration at the limited information available and emphasised the strong supporter desire for greater clarity on the subject due to its potential implications for the Club’s long-term future and security. They asked that their concerns and the strength of supporter feeling be appropriately conveyed.
“The FAB also discussed the Club’s financial position. Club representatives reiterated that the Club continues to operate normally and meet its financial obligations, noting that it continues to benefit from the ongoing support of the ownership.”
A sales document titled ‘Project Lineup’, seen by LeicestershireLive, has been prepared by global investment bank Citigroup to market the club to interested parties. The Srivaddhanaprabha family are initially seeking around $300m (£222m) for the full portfolio of assets.
However, due to recent financial losses and competitive drops, market experts anticipate a final deal value closer to £148m.
The sales brochure highlights a substantial property portfolio, which was valued at £204m in 2025. This includes the King Power Stadium at £74m, the state-of-the-art Seagrave training ground at £121m, and Belvoir Drive at £9m.
Beyond physical infrastructure, the sale pitch covers the academy, land acquired for stadium expansion, and Leicester City Women. The package even includes King Power’s Belgian sister club, OH Leuven.
To attract potential buyers, ‘Project Lineup’ heavily highlights the remarkable achievements under King Power’s tenure since buying the club for £35m in 2010. It points out that Leicester are one of only five clubs to win all three major English domestic trophies since 2000, including their iconic Premier League title.
The brochure frames the club as a single-city entity deeply rooted in the local community with a passionate, broad-based fan following. It promotes Leicester City as the most successful team in EFL history and a unique asset for investors seeking a club with a strong track record of winning promotions.
The inclusion of extra land surrounding the stadium offers a clear avenue for growth for incoming owners. Potential buyers are expected to be drawn to the real estate potential alongside the footballing brand.
Despite the noise around King Power’s intent to sell the club, the club have been unable to confirm it is up for sale. Jon Rudkin insisted in his rare interview with BBC Radio Leicester that Aiyawatt ‘Top’ Srivaddhanaprabha remains committed to the football club.
Rudkin would not elaborate on takeover talk beyond reaffirming Top’s commitment to the club.
“I can’t make any comment on speculation,” he said. “All I would say is that Khun Top is very committed here at Leicester City.
“We’ve witnessed that through the summer. He’s very keen on the day-to-day running of the club, the actions we’re taking with regard to the improvements we’ve made, from the learnings we’ve established. The ambition is still there. He’s very focused, regularly in contact with us and wants to see the club progress and get promoted and see us back playing in the Premier League.”
Last month, Martin was asked about what he knew about the ownership situation. The City boss was quick to insist that his side can’t let the noise above them impact their work on the pitch.
“I don’t know if the club is up for sale completely,” he said in September. “I don’t know when the deadline is. It’s not my job to know any of that really. I think Khun Top, Jon \[Rudkin\] and the guys, we spoke a lot over the transfer window and they’ve supported us hugely.
“He’s \[the owner\] still hugely invested in the club, otherwise we wouldn’t have signed 14 players and tried to rebuild the energy and team at this club that will hopefully bring success. So as long as everyone’s really supportive of that and we’re all open lines of communication, which it has been, then we’ll have to wait and see on the other stuff.
“That’s not my job at all. My job is to coach the team and make sure we’re better than we were last Saturday.”
Abdulhafiz Teslim
admin
