Leicester City Put Up for Sale by King Power After 16 Years

Leicester City’s remarkable 16-year era under the Srivaddhanaprabha family could be coming to an end, with the club’s owners reportedly putting the English side up for sale for more than £200 million.

King Power, the Thai retail and travel group that has owned Leicester since 2010, is understood to have begun the process of finding new investors after a dramatic decline in the club’s fortunes.

The news comes just months after Leicester suffered a second successive relegation and dropped into League One, the third tier of English football. The relegation was confirmed in April following a 2-2 draw against Hull City. 

The fall is a stark contrast to the extraordinary success Leicester enjoyed under the Srivaddhanaprabha family.

After King Power took control of the club in 2010, Leicester secured promotion to the Premier League in 2014 before producing one of the biggest shocks in football history by winning the Premier League title in the 2015/16 season.

The club went on to establish itself as a regular Premier League side and later won its first FA Cup in 2021.

However, Leicester’s fortunes changed dramatically in recent years. The club was relegated from the Premier League in 2023, returned to the top flight after winning the Championship in 2024, and was relegated again in 2025.

The latest campaign proved even more damaging, with Leicester dropping straight through the Championship into League One.

The club also faced significant financial problems. Leicester received a six-point deduction in February 2026 after an independent commission found the club had breached the EFL’s Profit and Sustainability Rules. 

The financial difficulties have added to the pressure on the ownership. Reports say King Power has engaged investment bank Citigroup as it explores potential buyers for the club. 

The proposed asking price is reportedly above £200 million, although the final value of any transaction could depend on negotiations and the club’s current financial and sporting position. 

The potential sale would bring an end to one of the most memorable ownership stories in modern English football.

The late Vichai Srivaddhanaprabha became one of the most popular club owners in English football during Leicester’s rise. His death in a helicopter crash outside the King Power Stadium in October 2018 was a major loss for the club and its supporters.

His son, Aiyawatt Srivaddhanaprabha, subsequently took over the club’s leadership.

Following Leicester’s relegation to League One, Aiyawatt accepted responsibility for the club’s situation and apologised to supporters, promising to make the necessary decisions to rebuild Leicester and restore the standards expected of the club. 

King Power has not publicly confirmed all the details surrounding the reported sale, but the development signals a potentially significant turning point for Leicester City.

For a club that went from Championship football to Premier League champions within six years, its current position in League One represents a dramatic reversal of fortunes.

If a buyer is eventually found, the next owner will inherit a club with a famous history, substantial infrastructure and a passionate fan base, but also the difficult task of rebuilding Leicester from the third tier.