Leicester City takeover news: Consortium interest, King Power plans, Foxes sale stance | OneFootball

All the latest news surrounding a potential takeover at Leicester City

Leicester City are preparing for life in League One after a disastrous campaign.

The Foxes were relegated from the Premier League just 12 months ago, and have suffered the drop for a second consecutive year.

It remains to be seen who will be in charge of the first team squad next season, with Gary Rowett overseeing their decline into the third tier.

The 52-year-old took charge in February, and remains in place for the time being but it is unclear whether he will oversee the start of next season.

It could be quite a busy summer of change at the King Power, with the transfer window set to be quite busy and now uncertainty surrounding the owner.

Here we take a look at all the latest news surrounding a possible takeover at Leicester…

Consortium eyes Leicester takeover

It has been reported by Alan Nixon that a consortium are looking at a potential investment in the League One side.

The current owner, Aiyawatt Srivaddhanaprabha, has been in charge of the Foxes since 2018 following the tragic passing of his father Vichai.

It’s believed that talks between the two parties are still at an early stage, but that things could progress quite quickly if an agreement can be found.

The Foxes have struggled with financial issues in recent years, which led to them receiving a six point deduction penalty this season for breaching the profit and sustainability rules (PSR).

Consortium plans for Leicester investment

It’s been claimed by Nixon that the consortium are considering investing primarily in the first team squad at first, as they target promotion back to the Championship as quickly as possible.

However, the consortium are thinking long-term, and are hoping that they could secure a larger share of the club if their initial investment proves successful.

It’s understood that they are also keen on purchasing both the King Power Stadium, as well as the club’s training facilities, which would give them a strong level of control on Leicester’s assets.

However, no agreement has yet been reached on a potential deal, and it remains unclear exactly which figures are behind this consortium.

Leicester’s takeover stance

The Leicester owner and chairman has outlined his stance on the potential sale of the club, indicating that he is not yet ready to walk away from the Foxes despite their downturn in form in the last couple of years.

He’s made it clear that he is emotionally invested in seeing the team return to their best, and that he won’t want to sell his stake in the club until he can figure out how to fix everything.

“Selling the club is not the way to exit,” said Srivaddhanaprabha, via Leicestershire Live.

“I have to make sure that I complete everything that I did here before I want to leave.

“Now I need to make sure the club is in a good place.

“If some prince comes in, maybe yes, and the club can be like Man City for example!

“But I am sure that is a long, long way to go.

“I still love it here, I want to make sure the club is successful again.

“Leicester is like my son to look after.

“So I have to do it right.

“Of course, a son can be naughty, or a son can fail the exam, and be a pain in your head. The son can be top of the class and graduate.

“So I feel the same. The love is there. The responsibility is there.

“The first thing for me is to identify the problem and fix it.

“We should know already what the problem is and fix it, then we move forward.”

However, that doesn’t rule out the possibility that he could sell a minority stake in the League One side, allowing for external investment to come in.

And it remains unclear whether he would be willing to sell the stadium and Leicester’s training facilities, while still holding a share in the club itself.

Aiyawatt Srivaddhanaprabha targets changes behind the scenes

Srivaddhanaprabha announced earlier this year that he is targeting changes behind the scenes amid Leicester’s downfall from the Premier League to League One.

The Thai businessman outlined his intention to appoint a new CEO and commercial director, as well as a sporting director.

He also made it clear that he wants to become even more involved in the day-to-day running of Leicester, indicating he is not yet ready to sell the club.

"The structure has changed,” said the Leicester owner, via Sky Sports.

“We have to bring in new people to help.

“It's clear we need to find a new CEO which I'm trying to do.

“A new commercial director should be appointed soon, and a new sporting director to help Jon [Rudkin, director of football].

“After that, I need to get myself involved a lot more.

“Then, let's create from there.”