Leicester City fan 'worry' raised after King Power ownership twist

The Foxes could be set for a change at the top after suffering relegation to League One.

The rise and fall of Leicester City has been quite spectacular, and even though they are preparing for League One football next season, they will always boast football's best underdog story.

Led by Claudio Ranieri, the Foxes defied the odds to lift the Premier League title in 2016 with a team studded with talent, including N'Golo Kante, Riyad Mahrez and Jamie Vardy.

After owner and chairman Vichai Srivaddhanaprabha tragically passed away in 2018, the club still outperformed expectations by lifting the FA Cup and progressing in European competitions, but there has been a steep decline since they were relegated from the top flight two years ago.

Vichai's son, Khun Aiyawatt Srivaddhanaprabha, has been Leicester's owner since his father passed away, but his time in charge looks to be coming to an end.

King Power sale news sparks Leicester City questions

Leicester's Thai owners are exploring selling the East Midlands club and have tapped investment bankers at Citigroup to sound out buyers, according to people familiar with the matter, the Financial Times reports.

King Power has owned the Foxes for more than 15 years, taking over when the club were plying their trade in the Championship and nobody could have foreseen the journey they have taken the football club on.

Despite their overwhelming success, there has been concern around the club, with their six-point deduction due to breaching the EFL's Profitability and Sustainability (PSR) rules highlighting their financial mismanagement.

When asked about his immediate reaction to the news that King Power are looking to sell, FLW's Leicester City fan pundit Jamie Preston raised some valid points while sharing his opinion.

"I'm not surprised, to be honest," he told Football League World. "King Power have come under a lot of stick and a lot of pressure to sell recently.

"The only worry is who are they selling it to? Will there be enough buyers out there to buy the company? I just don't know.

"It's been an absolutely fantastic ride with them. It's been great. I think a line's been drawn in the sand now for King Power. It's about the right time to try and look for someone to buy it.

"I thought they might have gone down the investment route and got an investor in as well as them, but it looks like they want it out, lock, stock and barrel."

Why a complete reset is needed at Leicester

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While King Power have brought the Foxes considerable success and unforgettable memories, all good things must come to an end and relegation to League One has signposted the need for that.

Accounts released this year highlighted substantial losses of £71.1million for the 2024/25 season, while the owners cleared over £100m worth of loans by converting debt to equity.

One of the biggest issues is that Leicester's squad that was relegated included a host of players on hefty wages, with Harry Winks on an estimated £90,000 per week, according to Capology, while Ricardo Pereira and Boubakary Soumare earned an estimated £80,000.

A wealth of those players have now departed the King Power Stadium, and with a fresh approach to player recruitment, the club have the opportunity to make Leicester sustainable again.

Then there is manager Russell Martin, who, although heavily criticised for his work at Southampton and Rangers, could be a shrewd appointment at that level given his success with MK Dons.

If and when the current owners depart, it will represent the end of an incredible era, and while change is needed in the East Midlands, they will forever be remembered for helping provide the greatest gift in the club's history.