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Leicester City have been put up for sale by Thai owners King Power after 16 years of ownership.
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The Foxes are seeking more than £200 million, with Citigroup preparing a sales brochure for prospective buyers.
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The sale includes the 32,000-capacity King Power Stadium, Seagrave training ground and Belgian sister club OH Leuven.
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Leicester have suffered back-to-back relegations and will begin the new season in League One.
August 13, (THEWILL) — Leicester City are up for sale, with King Power preparing to end its 16-year ownership of the club after a dramatic decline from Premier League champions to England’s third tier.
The Thai-owned group is seeking more than £200 million for the club, with leading US investment bank Citigroup producing an eight-page sales brochure to attract potential buyers.
The document, titled “Project Lineup”, presents Leicester as an opportunity to acquire a club with a remarkable history of promotion and success while highlighting its substantial physical assets.
Those assets include the 32,000-seat King Power Stadium, the Seagrave training facility and Belgian sister club OH Leuven.
The Seagrave complex, which opened in 2020, is valued at £121 million.
However, while the physical assets are valued at more than £200 million, no specific figure has been placed on the value of Leicester’s men’s and women’s teams.
The sales brochure places considerable emphasis on Leicester’s extraordinary achievements, including their famous 5,000-1 Premier League title triumph in 2016 and FA Cup victory five years later.
The club’s current position, however, tells a very different story.
Leicester were relegated from the Premier League in 2023, returned to the top flight for one season and then suffered another relegation in 2025.
Their decline continued last season when they dropped into League One, leaving them in the third tier for only the second time in their history.
The financial difficulties behind that decline are also not highlighted in the sales document.
Leicester’s 2025 accounts showed £103.6 million in bank loans, while the club lost more than £180 million during their years of moving between the Premier League and Championship.
Despite those challenges, Citigroup forecasts that Leicester’s turnover will exceed £97 million for the 2026 financial year.
King Power bought Leicester from Milan Mandaric for £35 million in 2010 and oversaw the most successful period in the club’s history.
The highlight came in 2016, when Leicester produced one of football’s greatest sporting fairytales by winning the Premier League despite beginning the season as 5,000-1 outsiders.
Five years later, they added the FA Cup to their trophy cabinet.
Khun Aiyawatt “Top” Srivaddhanaprabha is now chairman after his father, Khun Vichai Srivaddhanaprabha, died in a helicopter crash outside King Power Stadium in 2019.
But growing frustration among Leicester supporters has increased pressure on the ownership following the club’s spectacular fall from the Premier League to League One.
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Calls for King Power to sell became particularly vocal after Leicester’s relegation from the Championship was confirmed last season, with supporters gathering outside the stadium to express their anger.
The sale process comes just eight months after Top Srivaddhanaprabha accepted responsibility for the club’s decline and said he was shouldering the blame for Leicester’s predicament.
The timing also comes as King Power’s duty-free business in Thailand, which has been closely associated with Leicester throughout the family’s ownership, faces financial difficulties.
Despite the club’s problems, Leicester’s historic achievements remain central to the sales pitch.
The brochure points out that the Foxes are one of only five clubs to have won the Premier League, FA Cup and League Cup since 2000.
Their academy is also presented as a major asset, with the club highlighting its scouting network, player development and record of producing talented footballers.
That production line recently delivered another major financial return, with academy graduate Jeremy Monga joining Manchester City for £10 million last month.
The challenge facing any new owner, however, will be enormous.
Leicester are now preparing for life in League One under head coach Russell Martin and will begin their latest campaign away to Notts County on Saturday.
After years of Premier League football, European competition and unforgettable trophy victories, the Foxes are now looking for a new owner capable of rebuilding the club and restoring it to the level reached during the extraordinary King Power era.
For Leicester supporters, the sale represents the end of one chapter and potentially the beginning of another attempt to revive a club that has experienced one of the most dramatic rises and falls in modern English football.
Olumide Atiba is a sports journalist with THEWILL, known for his keen news sense and compelling storytelling. He has built a reputation for turning leads into clear, well-structured reports that resonate with readers, with a strong focus on football coverage
