LEICESTER — King Power, the Thai-owned group that has controlled Leicester City for 15 years, is reportedly considering selling the English football club after a dramatic decline on and off the pitch, according to local media and the Financial Times.
The Leicester Mercury reported that the club’s owners are considering a sale following years of sporting and financial difficulties that have seen Leicester fall from Premier League champions to League One, England’s third tier.
Leicester made history in 2016 by winning the Premier League title against all expectations. The following season, the club reached the quarter-finals of the UEFA Champions League under the ownership of late King Power chairman Vichai Srivaddhanaprabha, who died in a helicopter crash in 2018.
His son, Aiyawatt Srivaddhanaprabha, subsequently took over the club’s management. Leicester continued to enjoy success for a period, finishing fifth in the Premier League in the 2020-21 season and winning the FA Cup.
However, the club later faced financial difficulties, with the COVID-19 pandemic also affecting King Power’s core business.
Leicester were relegated from the Premier League in 2023 but returned to the top flight the following year. They were then relegated again and have since suffered two consecutive drops, leaving them in League One, the third tier of English football.
The club’s move to a new training facility in Seagrave, alongside declining performances, has reportedly added to its financial difficulties. The club was reported to have recorded a £71.1 million loss during the 2024-25 Premier League season.
The Financial Times reported that King Power has approached investment bank Citigroup to appoint its investment banking division to explore potential buyers, citing people familiar with the matter.
The report said the process is at an exploratory stage and does not necessarily mean a sale will take place.
Leicester City has not officially commented on the reports.
