Leicester City is up for sale after 16 years of King Power ownership

Leicester City is now for sale by its Thai owners, King Power, after 16 years in charge. The group is reportedly looking for over £200 million for the club.

BBC Sport reported on Thursday that a sales brochure from US investment bank Citigroup is being sent to potential buyers. This brochure aims to attract new investors for the club.

The eight-page document, called "Project Lineup", includes Leicester City, the women’s team, and other key assets. This includes the King Power Stadium, which has a capacity of 32,000, and the Seagrave training facility.

Leicester's Belgian sister club, OH Leuven, is also part of the sale.

The brochure claims the club’s physical assets are worth over £200 million, but it does not provide a specific price for the men’s and women’s teams.

Citigroup called the sale a "rare opportunity to acquire a club with an excellent track record of winning promotions to higher divisions." The brochure points out Leicester’s historic wins, like the 2016 Premier League title and the FA Cup in 2021.

But the document does not mention the club's current situation in League One after being relegated from the Premier League and Championship in recent seasons.

It also predicts Leicester’s turnover will exceed £97 million for the 2026 financial year.

However, the sales material does not include details about the club’s recent financial losses or debts. Leicester’s 2025 accounts showed £103.6 million in bank loans, and the club reportedly lost over £180 million during a tough period with two relegations between 2023 and 2025.

King Power, owned by the Srivaddhanaprabha family, purchased Leicester City from Milan Mandaric for £35 million in 2010.

Khun Aiyawatt “Top” Srivaddhanaprabha is now the chairman of the club. He took over after his father, Khun Vichai, died in a helicopter crash outside the King Power Stadium in 2018.

Rumors about a possible sale first appeared in July. The distribution of the sales brochure confirms that the club is actively looking for new investors.

This news comes as Leicester supporters grow frustrated with the club’s decline in recent years.

Leicester was relegated from the Championship last season and will start their new campaign in the third tier under manager Russell Martin.

Even with these challenges, the club is being marketed as one of just five English clubs that have won the Premier League, FA Cup, and League Cup since 2000.

The brochure also highlights Leicester’s academy and scouting system. It describes the club as having a strong talent pipeline that can produce top players.

Recently, the club sold academy graduate Jeremy Monga to Manchester City for £10 million.

Leicester City did not comment on the sales brochure when contacted by BBC Sport.