Manager Russell Martin, who has previously managed clubs such as Rangers, Southampton and Swansea, has been given the job of turning around the fortunes on the pitch for Leicester City, who are now down in League One. It wasn’t that long ago that they were in the Premier League eating cherries with the big boys.
Now the club has been put up for sale, with a valuation that is in a completely different world than Liverpool who are currently negotiating with Jeff Bezos to sell parts of the club. Owner Fenway Sports Group values the club at approximately $6 billion.
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King Power has owned Leicester City since 2010, but now the Thai owners want to sell the club for over £200 million – after 16 years at the helm.
“The Foxes” has engaged the renowned American investment bank Citigroup to prepare an eight-page sales document to attract potential buyers.
The brochure, titled ‘Project Lineup’, includes not only the men’s team, but also the women’s team and several key assets – including the 32,000-capacity King Power Stadium, Seagrave training facility (opened in 2020, valued at £121 million) and Belgian sister club OH Leuven.
According to the document, the physical assets alone are valued at over £200 million. However, no specific sale price has been given for the football operation itself.
The brochure highlights “a rare opportunity to buy a club with an outstanding track record of promotion to higher divisions”.
Leicester’s greatest triumphs – the Premier League title in 2016 (at odds of 5000-1) and the FA Cup victory five years later – are being talked about in depth. However, there is no mention of the club’s current position in League One, after two straight relegations from the Premier League and the Championship.
Citigroup estimates the club’s revenue at over £97 million for the 2026 financial year, but the sales document omits the years of financial deficits and the debt item. According to the accounts for 2025, the club has a bank loan of £103.6 million. During the period the club alternated between the Premier League and the Championship – with relegation from the top division in both 2023 and 2025 – it lost a total of over £180 million.
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King Power, controlled by the Srivaddhanaprabha family, bought the club for £35 million from Milan Mandaric in 2010. The current chairman, Khun Aiyawatt “Top” Srivaddhanaprabha, took over from his father Khun Vichai, who died in a helicopter crash outside the stadium in 2019.
Already in July, it was reported in the Financial Times that the club was for sale, but the public distribution of the sales brochure now confirms that they are actively seeking new investors. The sale process comes just eight months after Khun Top took the blame for the club’s dramatic fall.
Among the most disgruntled fans, demands for a change of ownership have increased, especially after the relegation to the Championship was confirmed last season – with clear protests outside the King Power Stadium.
Leicester’s financial challenges have also coincided with difficult times for King Power’s duty-free business in Thailand, which has long been closely linked to the club.
The sales pitches – and what is left out
Despite the downturn, Leicester City is now marketed as one of only five clubs to have won all three major English trophies since 2000: the Premier League, FA Cup and League Cup.
The document also highlights the club academy as a strength, with “a solid talent development, supported by advanced scouting infrastructure, active transfer management and a highly developed academy system that regularly produces top players”. Last month, Leicester sold academy product Jeremy Monga to Manchester City for £10 million.
Leicester, who were relegated to League One for only the second time in the club’s history, open the season under head coach Russell Martin with an away game against Notts County on Saturday.
The club did not want to comment on the sales brochure to BBC Sport.
Who could conceivably buy Leicester?
Analysis by Owynn Palmer-Atkin, BBC Radio Leicester
For a long time, an increasing number of Leicester fans have been calling for a change of ownership. Now it seems that they are starting to get their wish fulfilled.
Despite adventurous success under King Power, the downturn of the last half decade cannot be overlooked. King Power raised the ambitions, expectations and very definition of success at Leicester City – and must now be measured against the same standards.
The club has solid physical resources, but with the team at its lowest level since 2009, it will take significant time, effort, and capital to bring Leicester back to the Premier League.
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