Leicester Owners Recommit To The Future Of The Club

After Leicester City’s remarkable promotion story, almost Premier League relegation and then the totally unexpected league title win back in the 2015/16 campaign, it is fair to say they have had a bit of a mixed time of things since then.

Although the club has not truly struggled in the top flight, they have obviously had better moments and they also had to deal with the unexpected death of their owner Vichai Srivaddhanaprabha which undoubtedly knocked them, but under the control of Aiyawatt Srivaddhanaprabha it appears they have now done the hard, but necessary, financial legwork to put the club back on an upward curve under manager Brendan Rodgers and with news this week that their chairman has just cleared the club’s outstanding debt (£194 million) owed to parent company, King Power International (KPI), there will be plenty in the fan base who are hoping that come the summer they see the rebuild and influx of players that they need to again push on.

Upon completing the debt to equity transfer to relieve the club of the outstanding amount, a Leicester City statement pointed to the ongoing commitment shown by their owners – ‘KPI’s commitment to supporting the club’s long-term sustainability.’ Many fans have made their feelings known and are very sceptical, one being Jamie from Fruity Slots who claims to have heard the same messages from the board numerous times.

“These loans have been provided by KPI to the club over the last four years to fund the construction of the club’s world-class new training ground at Seagrave and to continue to support the club’s investments into its squad and women’s football during the Covid-19 pandemic. Their conversion into equity serves to strengthen the club’s balance sheet, reduce its interest costs, and provide further evidence of KPI’s commitment to supporting the club’s long-term sustainability.”

This is the second time the family have completed a debt to equity transfer since they initially invested in the club, as they previously wiped out a sum of £103 million back in 2013.

In his own statement, Aiyawatt Srivaddhanaprabha, explained.

“Maintaining long-term stability is vital for sustainable growth and a fundamental principle that has always guided our investments in the club’s future. We want to make sure we continue on that path from the strongest, most secure financial footing.”

He continued on to say.

“I believe with all my heart in Leicester City and what the club can achieve for our fans, our people and our communities – in Leicester, Thailand and around the world. The faith they continue to place in us to run their club responsibly with ambition and integrity guides our decision making and remains vital to us building on one of the most successful eras in the club’s history.”

Although it has turned more into a season of struggles for Leicester, they will certainly be hoping to see form improvements during the second half of the season as they currently sit down in 14th place having secured only 18 points from their opening 20 games.

If this latest financial move does give Rodgers a boosted war chest come the summer, we could well see the Foxes bounce back strongly next season and look to resume their battle at the upper reaches of the table.