Wire flash
SportsFT Exclusive: King Power Group to sell Leicester City, hires Citigroup for valuation
Editorial responsibility
- No named human review is recorded for this page.
- Source reporting is collected, normalized, translated or condensed automatically when needed.
- Automatically published source-backed update
According to an exclusive report by the Financial Times, King Power International Group, Thailand's largest duty-free operator and parent company of Leicester City Football Club, has hired Citigroup to manage the sale of the club. The club, which won the Premier League title a decade ago, has suffered a sharp decline, being relegated for two consecutive seasons and now set to play in England's third-tier league. Financial pressures are severe: the club posted a loss of £71.1 million on revenue of £186.5 million for the year ending June 2025, and was deducted six points by the English Football League for breaching financial rules. The club's former owner, Vichai Srivaddhanaprabha, died in a 2018 helicopter crash; his son Aiyawatt currently runs the club. The sale process is in early stages, with Citigroup handling the evaluation.
Source report
Hupu Football News | 3 minutes ago
July 23 – According to an exclusive report by the Financial Times, sources have revealed that Leicester City Football Club, which won the Premier League title a decade ago, is being considered for sale by its Thai-based parent company.
Key Details
- King Power International Group, Thailand's largest duty-free shop operator, has reportedly hired Citigroup to manage the sale.
- Sources requested anonymity as the information is private.
- Representatives for Citigroup and Leicester City Football Club declined to comment.
- A spokesperson for King Power International Group could not be reached.
- The news was first reported by the Financial Times.
Club Performance and Financial Struggles
Since its surprise Premier League and FA Cup victories five years ago, Leicester City's performance has declined. The team has been relegated for two consecutive seasons and will begin the new campaign in England's third-tier league.
Ownership Transition
The club's former owner, Vichai Srivaddhanaprabha, died in a helicopter crash outside the stadium in 2018. His son, Aiyawatt, subsequently took over the club.
Financial Losses
According to the latest financial report filed with Companies House for the period ending June 2025:
- Loss: £71.1 million ($95.2 million) in the season the club was relegated from the Premier League
- Revenue: £186.5 million
Additional Pressures
- Last season, the English Football League deducted six points from the club for breaching financial regulations.
- In April, the club lost its appeal, and the ruling was upheld.
Revenue Impact of Relegation
Leaving the lucrative Premier League leads to a significant drop in revenue. Top-flight broadcast income is at least £110 million higher per year than the Championship. Although the club receives "parachute payments" in the first year after relegation to cover roughly half the shortfall, the financial impact remains severe.
Club Investments
Leicester City has invested heavily in new training facilities, and its stadium can accommodate approximately 32,000 spectators. The club recently announced that about 23,500 season tickets have been sold for the new season.
Source: Bloomberg
International Football News
Posted in: Shanghai Reads: 193
Source
虎扑 - 足球Neutral / independent
Part of this Story
Financial Times Exclusive: Thai King Power Group Prepares to Sell Leicester City, Evaluation Underway