Leicester's Thai owners put troubled club up for sale: reports

Leicester City, once celebrated as one of English football’s greatest underdog stories, has entered the market for potential buyers after its Thai owners decided to put the club up for sale, according to recent reports. The decision comes amid a steep decline in fortunes since the club’s historic Premier League title win in 2022. This marks the first time in nearly a decade that the club faces such a pivotal moment, with speculation growing about its future direction. The club, which rose from near-relegation to become champions in just five seasons, has struggled significantly in recent years. After winning the FA Cup in 2021, Leicester found itself mired in financial difficulties and poor performance. In 2025, the team was relegated from the Premier League for the first time in its history, followed by another drop to the Championship in 2026. Last season, the club faced further setbacks when it was penalized with a six-point deduction due to violations of the Football League’s profit and sustainability regulations. These issues led to a dramatic fall to League One, the third tier of English football, for the second time in the club’s history. According to a BBC report, the club’s current owners, the Srivaddhanaprabha family through their business empire King Power, have engaged a top-tier U.S. investment bank to assist in finding a new owner. The valuation of the club’s assets is reportedly above £200 million, reflecting both its historical significance and ongoing challenges. King Power acquired Leicester in 2010 for £35 million, marking the beginning of a transformative era for the club that saw it rise to prominence. Aiyawatt Srivaddhanaprabha, who became chairman following the tragic death of his father Vichai in a helicopter crash outside the King Power Stadium in 2019, acknowledged responsibility for the club’s struggles. He stated that while he would take the blame for the situation, he emphasized that structural changes were necessary to address the problems. Despite these challenges, the club continues to push forward, with manager Russell Martin preparing for the upcoming campaign against Notts County. The Srivaddhanaprabha family’s involvement with Leicester has been marked by both success and controversy. Their ownership brought international attention to the club, particularly through the global expansion of King Power, which includes retail stores and hospitality ventures. However, the financial pressures associated with maintaining a top-flight club proved overwhelming, especially given the fluctuating revenues and increasing costs tied to modern football operations. The move to sell the club follows a period of uncertainty and instability. With the team competing in League One, the focus shifts to securing new leadership that can stabilize the club financially and competitively. Potential buyers could include other football clubs, private investors, or even foreign entities interested in acquiring a storied English brand. The process of finding a suitable buyer is likely to be lengthy, involving detailed negotiations and due diligence. As the club prepares for the new season, fans remain hopeful that despite the challenges, Leicester can bounce back. The coming months will determine whether the club finds a new owner capable of steering it toward recovery or if it enters a prolonged period of uncertainty. The sale process is expected to unfold gradually, with key decisions yet to be made regarding the club’s future structure and strategic direction.