Leicester City takeover truths emerge as Srivaddhanaprabha family demand revealed | OneFootball

The Foxes' current ownership group have set out a hefty valuation as they look for a sale

Despite being relegated to League One for just the second time in club history, it has emerged that Leicester City's ownership group, King Power, are looking for in excess of £200m in an attempt to sell the club.

That is according to the Athletic, with key information on the club's biggest assets being sent to potential investment groups ahead of the new third tier season, which, for the Foxes, begins with a trip to Notts County.

Leicester's recent fall from grace has been documented just as much as their prior successes, which included the most unprecedented of Premier League title victories under Claudio Ranieri 10 years ago.

However, Russell Martin is now at the helm after being handed a three-year contract, as he hopes to halt the slide after back-to-back relegations, with the club still needing to balance their financial books at this moment in time.

Leicester City valued in excess of £200m as King Power eye Foxes sale

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It was reported late in July that Leicester's hierarchy, which has come in for intense criticism during recent times amid breaches of PSR regulations - which resulted in a six-point deduction - had started to explore the idea of sounding out potential buyers after contacting American investment firm, Citigroup.

The Srivaddhanaprabha family have owned the Foxes since 2010, with Vichai Srivaddhanaprabha previously owner between then and his tragic passing in October 2018, overseeing the most remarkable of initial transformations in English football history.

His son, Aiyawatt, has since taken over the reins, but after initially seeing the club still compete regularly in Europe, as well as winning the FA Cup and Community Shield in 2021, is now looking to recoup as much as £222m in a sale.

However, it has been claimed that a deal for that amount would be unlikely, and instead a realistic valuation sits at approximately £148m.

Citigroup has reportedly drafted a financial brochure titled 'Project Lineup', with Belgian side, OH Leuven, also featuring as part of the potential deal after being acquired by King Power Group nine years ago.

Despite losing a combined amount of £272.7m over the past four accounting years, the club's property portfolio of the King Power Stadium and surrounding land owned by the club, as well as Seagrave and Belvoir Drive, the latter of which is now used by the women's team, is said to be worth £204m in itself.

Leicester City are tapping into recent history as sale talk intensifies

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As well as having such vasts amount of property, Citigroup have also put a strong emphasis on Leicester's recent past, as well as their current chances of achieving a first-time promotion back to the Championship, which many are expecting Martin's squad to achieve.

The Athletic's report states that the American firm have written within the brochure that the Foxes are “the most successful club in EFL history," which, can certainly be credited as a fact alongside their recent exploits in the top-flight, having won the Championship title for a record-breaking eighth time two summers ago.

As well as this, the fanbase has also emerged as a plus-point towards any sale, with the brochure also claiming: “(Leicester is) the third largest English city with only one club … deeply embedded in Leicester’s fabric with a dynamic, broad-based and highly loyal fanbase.”

King Power sale would continue to mark a new era for Leicester City

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Given the sour atmosphere in LE2 in recent years, few could argue that a takeover is the best outcome for all involved at present, although a sale in excess of £200m would be unprecedented for a club plying its trade in League One.

The appointment of Martin in June initially split opinion, but after a slow start to the transfer window, City have made some statement additions for the level, including Tommy Watson, Conor Chaplin and Wes Burns - of which the latter duo previously played key roles in Ipswich Town's revival under Kieran McKenna.

Furthermore, high earners such as Abdul Fatawu, Harry Winks and Victor Kristiansen have all departed in some form, as well as the club receiving a sizeable fee for Jeremy Monga's switch to Manchester City.