Fresh Leicester City takeover update emerges

Leicester City have been put up for sale following their relegation from the Championship

Leicester City have endured a difficult couple of years as they now prepare for life in League One.

The Foxes have suffered back-to-back relegations, falling from the Premier League to the third tier in just two campaigns.

Russell Martin has been appointed as the new head coach, and has been tasked with guiding the club back to the Championship at the first attempt.

Financial issues have plagued the Leicestershire outfit, with a six point deduction penalty last season playing a pivotal role in their relegation.

The League One side were docked six points for breaching the profit and sustainability rules, which has put pressure on the owners to turn things around.

King Power is led by Aiyawatt Srivaddhanaprabha, who took over following the death of his father Vichai in 2018, with the group purchasing the club in 2010.

Leicester City owners explore sale

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It has been reported by the Financial Times that Leicester’s owners are considering a sale of the club following their recent troubles.

It is understood that King Power are looking for a way out of the League One side just 16 years after completing their takeover.

The group enjoyed unprecedented success in the Foxes’ history, which began with promotion to the Premier League under Nigel Pearson in 2014, winning the Championship title in the process.

And it continued when Claudio Ranieri led a remarkable rise to the Premier League title in 2015/16, which culminated in Andrea Bocelli performing in front of Leicester supporters to celebrate the achievement.

The club competed in the Champions League and Europa League in the years that followed, and went on to win the FA Cup for the first time in their history in 2021 under Brendan Rodgers.

But financial issues led by the pandemic caused significant problems behind the scenes for the owners.

It’s been claimed that a drop in tourists to Thailand has had a major impact on their business, which has ultimately prompted the decision to look to sell.

It’s believed that lower league clubs, particularly in England, like Leicester are currently the target of investment, which could lead to optimism regarding a deal.

How Leicester City fans feel about a potential takeover

While the owners have led Leicester to never-before-seen success at the King Power, fans are ready for the group to sell their stake in the club.

Supporters have also urged for Jon Rudkin to leave the Foxes, with the sporting director receiving a lot of criticism for his role in the team’s decline.

Meanwhile, other concerns have been raised by some fans over whether the team will see any investment in the short-term given Leicester are now up for sale.

Leicester will begin the new campaign on 15 August with a trip to face Notts County.

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Leicester City sale would be the best for all parties

It’s clear with these recent financial issues that the Leicester owners have never been able to fully recover from the COVID-19 pandemic.

King Power brought an unbelievable level of success to the club, but now is the right time for them to sell after their relegation to League One.

The asset won’t be at its most valuable at this stage, but it’s an indication of their lack of resources that now is the time for them to move on.

The Srivaddhanaprabha will likely be remembered more fondly once they’re gone for good, and fans can take the time to fully reflect on their entire time in charge of the Foxes.