The former English champion, after 16 years under Thai ownership by King Power Group, has been put up for sale for over £200 million following relegation to the third tier of English football.
Leicester City, the club that penned one of football's greatest fairy tales by winning the English title in 2016, has been officially put up for sale. Thai ownership group King Power, which acquired the club in 2010, has enlisted American investment bank Citigroup to find a new owner, with an asking price exceeding £200 million.
The news was announced on August 13, 2026, following a disastrous period in which the club suffered back-to-back relegations and now finds itself in the third tier of English football, League One. They will open their season away at Notts County on Saturday, marking only the second time in their history that they will compete at this level.
King Power purchased Leicester from Milan Mandarić for a mere £35 million in 2010. Under the stewardship of Vichai Srivaddhanaprabha, the club experienced an incredible rise, winning the Premier League in 2016, the FA Cup, and competing in the Champions League. However, tragedy struck in 2019 when Vichai died in a helicopter crash outside the stadium.
Following his death, his son Aiyawatt 'Top' Srivaddhanaprabha took over, but he has failed to replicate his father's success. Instead of trophies, Leicester has fallen into significant financial difficulties and sporting decline, leading them to the third tier.
Citigroup has prepared an eight-page sales brochure titled 'Project Lineup' that is being distributed to potential buyers. The package includes the men's first team, the women's team, the 32,000-seat King Power Stadium, and the Seagrave training center, which opened in 2020 and is valued at £121 million. The Belgian sister club OH Leuven is also included in the sale.
According to BBC Sport, Citigroup describes the sale in the brochure as a 'rare opportunity to acquire a club with an excellent track record of winning promotions across multiple leagues.' They also highlight a 'strong talent pipeline supported by leading scouting infrastructure, active transfer management, and a highly developed academy system that consistently produces top players.'
The sales brochure projects revenue exceeding £97 million for the 2026 financial year, but the underlying data tells a much darker story. The club suffered financial losses exceeding £180 million between 2023 and 2025. The 2025 accounts also reveal significant debt, including £103.6 million in bank loans.
The decision to sell comes at a time when King Power's duty-free business in Thailand is also facing its own economic challenges. The synergy between the business empire and the football club, which was strong during Vichai's leadership, has been undermined by global market shifts.
Despite the grim present, the brochure emphasizes Leicester's elite status in the modern era to potential buyers. The club is positioned as one of only five clubs to have won all three major English trophies-the Premier League, FA Cup, and League Cup-since the turn of the millennium.
Special emphasis is placed on the youth academy, which was recently validated by the sale of academy product Jeremy Monge to Manchester City for £10 million. Initial reports of the sale emerged as early as July 2026 in the Financial Times, but the distribution of the sales brochure marks a public confirmation that new investors are being actively sought.
There is widespread discontent among fans, culminating in loud protests outside the stadium following relegation from the Championship. The era of the Srivaddhanaprabha family, which lasted 16 years and brought the greatest successes in the club's history, is now drawing to a close.
