Leicester's Thai owners put troubled club up for sale

Leicester City's Thai owners, King Power, are putting the club up for sale, according to recent reports. Just a decade after their historic Premier League title victory, the team will now compete in English football's third division for the first time in their history this season. The club, which clinched their first FA Cup in 2021, has faced a challenging period, having been relegated from the Premier League twice in recent years.

Last season, they were penalized six points for breaching profit and sustainability rules, leading to their descent into League One. A BBC report stated that King Power, led by the Srivaddhanaprabha family, has enlisted a prominent US investment bank to assist in finding a potential buyer. The club's assets are reportedly valued at over £200 million (US$269 million).

The Srivaddhanaprabha family acquired Leicester in a £35 million purchase in 2010. Aiyawatt Srivaddhanaprabha, who took over as chairman following his father Vichai's death in a helicopter crash in 2019, admitted responsibility for the club's current situation but emphasized that the structure will undergo changes. Leicester's promotion campaign begins with a match against Notts County on Saturday.