End of an era! Leicester City put up for sale by King Power for £200m+ following disastrous fall to League One

According to BBC Sport, the Thai-based King Power group, led by chairman Aiyawatt 'Top' Srivaddhanaprabha, has instructed leading US investment bank Citigroup to handle the sale of the club. An eight-page sales brochure titled 'Project Lineup' is currently being circulated to potential investors, detailing a package that includes the men's first team, the women's team, the 32,000-seat King Power Stadium, and the state-of-the-art Seagrave training facility.

While the brochure highlights the club's physical assets - valued at more than £200 million, including a £121 million price tag on the training ground opened in 2020 - it remains vague on a specific valuation for the playing squads. Instead, Citigroup describes the sale as 'a rare opportunity to acquire a club with an excellent track record of winning promotions to higher divisions.'

The sales pitch forecasts a turnover of more than £97 million for the 2026 financial year, but the underlying figures tell a more sobering story of the club's recent stability. The Foxes have endured staggering financial losses totaling more than £180 million during a volatile period between 2023 and 2025. Furthermore, the club's 2025 accounts revealed a significant debt burden, including £103.6 million in bank loans.

This decision to sell comes as the King Power duty-free business in Thailand faces its own set of economic challenges. The synergy between the business empire and the football club, which was so potent during the years of Vichai Srivaddhanaprabha's leadership, has been strained by global market shifts.

The Srivaddhanaprabha family originally purchased Leicester City for just £35 million from Milan Mandaric in 2010, transforming them from Championship hopefuls into global icons. However, the mood among the fans has soured significantly following back-to-back relegations. The sale process follows months of growing unrest, which peaked with vocal protests outside the stadium after their Championship exit.

Despite the current gloom, the sales brochure reminds potential buyers of Leicester's elite standing in the modern era. The document positions the Foxes as one of only five clubs to have won all three major English trophies - the Premier League, the FA Cup, and the League Cup - since the turn of the millennium.

A key pillar of the sales pitch is Leicester's famed youth setup, which Citigroup describes as a 'strong talent pipeline backed by leading scouting infrastructure, active transfer management and highly developed academy system consistently producing top players.' This reputation for talent development was recently underscored by the £10 million sale of academy graduate Jeremy Monga to Manchester City.

As the 'Project Lineup' document continues to make the rounds in financial circles, the reality of League One football looms large for the supporters. The Foxes are set to begin their campaign in the third tier for only the second time in their history, starting with a trip to face Notts County on Saturday.