Leicester City is on the market, with owner King Power looking to cash in after 16 years at the helm and a reported asking price of more than £200 million.
An eight-page sales brochure, produced by US banking giant Citigroup under the title Project Lineup, is being circulated to potential buyers. It pitches the Foxes, Leicester City Women, the King Power Stadium, the state-of-the-art Seagrave training ground and even Belgian sister club OH Leuven as part of the package.
The glossy sales pitch highlights Leicester’s fairy-tale 5,000-1 Premier League triumph in 2016 and FA Cup success in 2021, describing the club as a “rare opportunity” with a proven record of winning promotion.
What it doesn’t mention is Leicester’s current reality. The club is preparing for life in League One following back-to-back relegations and has racked up losses of more than £180 million in recent years. Bank loans totalling more than £100 million also fail to make the brochure’s highlight reel.
The club’s physical assets alone are valued at more than £200 million, including the £121 million Seagrave training complex opened in 2020. Citigroup also points to projected annual revenues of around £97 million and Leicester’s academy, which recently produced £10 million sale Jeremy Monga.
King Power bought Leicester for £35 million in 2010, overseeing the most successful period in the club’s history. Chairman Aiyawatt Srivaddhanaprabha took charge after the death of his father, Vichai, in a helicopter crash outside the stadium in 2018.
Fan frustration has grown as results have declined, with many supporters calling for fresh ownership. The sale process now appears to be officially under way as Leicester look for a new chapter after one of the most dramatic rises and falls in English football.
The Foxes begin their latest League One campaign away at Notts County on Saturday. Leicester declined to comment on the sales brochure when approached.
