Poor ownership has been one of the many contributing factors toward Leicester City’s sudden downfall. Ever since the tragic helicopter crash, which took the life of owner Vichai Srivaddhanaprabha, the club haven’t been the same, under the ownsership of King Power. Whilst successes like the FA Cup triumph have come in the time after, the mounting losses and successive relegations show something clearly needs to change. Could new ownership be the answer?
Possible Sale on the horizon for Leicester City?
King Power Ownership: New Interest
Earlier today, reports from the Financial Times claimed that Leicester City’s Thai owners are exploring selling the football club. In addition to this, Sky Sports have added to the speculation as they understand an unnamed Middle Eastern firm holds interest in buying the Foxes. The owners are said to be engaged with financial advisors for the possible sale of the club, whilst also working with investment bankers at Citibank.
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The news comes just before a crucial season in the third tier, where City look to right the wrongs of the past few years, under the guidance of King Power. Russell Martin has been in his post as manager for a few weeks now, having already added Conor Chaplin and Alex McCarthy to his squad. In terms of outgoings, Bilal El Khannouss, Abdul Fatawu and Jeremy Monga all left, thus becoming the three most expensive sales that the league has ever seen. Meanwhile, high earners like Harry Winks and Victor Kristiansen have also made way, though the latter’s is only a loan.
The right move?
The past few years have been disastrous for the club, especially given how valuable an asset Leicester City once was. The 24/25 season alone showed losses of £71.1m, which is even more surprising given the fact that they were in the Premier League. Even outside of the football club, King Power isn’t doing well. They were scarred by the COVID-19 pandemic, which led to a massive drop in visitors, especially from China. Airports of Thailand said in October it had agreed to renegotiate some of the company’s retail concession contracts.
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Whilst Leicester are in turmoil, it’s still hard to say that Khun Top doesn’t care about the club. Unlike many other owners, he still shows passion and care, though he just doesn’t seem to be the right person for a role of this magnitude. For instance, the promotion of Jon Rudkin seems baffling after the years of mares in the transfer market.
A sale in the next year or two may be the best way forward, and hopefully the East Midlands outfit are well-equipped for whatever happens. There is a strong group of young players coming through, with others already bringing in good money. There are certainly foundations to build on, but time will only tell how City can rebuild and who will be in charge.
Featured Image Credit:
IMAGO / Pro Sports Images
