King Power put Leicester City up for sale as Foxes face League One debut

Leicester City are up for sale after owner King Power instructed US investment bank Citigroup to produce an eight-page sales brochure on the club’s behalf, according to a BBC Sport report published on the eve of the new EFL season.

The document, titled ‘Project Lineup’, values Leicester’s physical assets at more than £200m and lists the men’s and women’s teams, the King Power Stadium, the £121m Seagrave training ground, and Belgian sister club OH Leuven as all included in any potential deal. The brochure highlights the 2016 Premier League title and 2021 FA Cup triumph, as well as a projected turnover of £97m for the 2026 financial year, but makes no mention of the club’s back-to-back relegations or recent financial difficulties.

The Thai retail group, founded by the late Vichai Srivaddhanaprabha, purchased Leicester in 2010 and oversaw the most remarkable period in the club’s history — most memorably the 5,000-1 Premier League title win in 2016. Vichai died in a helicopter crash outside the King Power Stadium in October 2018, with his son Khun Aiyawatt ‘Top’ Srivaddhanaprabha assuming the chairmanship.

Since then, the club’s fortunes have deteriorated sharply. A shock relegation from the Premier League in 2023 was followed by an immediate Championship title under Enzo Maresca, but Leicester went straight back down in 2025 and suffered a second consecutive relegation last season — a fall compounded by a six-point deduction for breaching EFL financial rules. The Foxes were found to have overspent by £20.8m over a three-year period during their 2023/24 Championship campaign.

The financial picture is stark. Over the three seasons from 2022/23 to 2024/25, Leicester recorded combined losses of £180.2m. The club have also cycled through ten different managers — including caretakers — in less than three and a half years.

Leicester now face only their second-ever season outside the top two tiers of English football, opening with a trip to Notts County on Saturday. A section of the fanbase has long called for King Power to sell, and the commissioning of the Citigroup brochure represents the first concrete step towards a potential change of ownership.