According to Mirror, the Thai owner of Leicester City is considering selling the team due to financial difficulties. Businessman Aiyawatt Srivaddhanaprabha, the club's chairman, is looking to sell more than 50% of his shares at a reasonable price.
The club is currently valued at around £200 million. So, if Aiyawatt Srivaddhanaprabha decides to sell his stake, he could earn no less than £100 million. This amount is enough to solve the immediate difficulties of the former Premier League champion.
Thai owner wants to sell Leicester.
Leicester City FC is recording a loss of up to 92.5 million pounds in the 2021-2022 season alone. Leicester's financial situation has not shown any positive signs.
In fact, the King Power Stadium team fell into a difficult situation after the late Chairman Vichai passed away in a tragic plane crash. Despite having more than 200 million pounds of debt forgiven, Leicester still owes many partners a sum of 300 million pounds,
The Daily Mail commented: " Leicester City is trying to negotiate to resolve the situation. However, they may record even bigger losses in the 2022-2023 season. At that time, even if Leicester City is promoted and wins a large bonus, they will still have to continue selling players. They are forced to do so to balance revenue and expenditure and avoid violating the financial regulations of the Premier League ."
The Vichai family bought Leicester City for £39 million in 2010. After 6 years of development, they won the Premier League championship with an incredible performance in 2016. After this point, Leicester City declined and was relegated in the 2022 - 2023 season.
Leicester City are currently leading the Championship - the English First Division. They are 3 points ahead of their nearest rival, Ispiwich Town, with only 10 rounds left to go.
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