Turki Alalshikh to seal Leicester City takeover? What is actually going on | OneFootball

The Saudi Arabian boxing tycoon was linked with a potential takeover move at the King Power Stadium last month

Leicester City's recent fall from the Premier League into League One has been heavily publicised, and so has the club's financial situation.

The Foxes, of course, provided modern football's greatest storyline just a decade ago by winning the Premier League title at staggering 5000-1 odds, but now find themselves in English football's third tier for just a second-ever season since their formation in 1884.

It hasn't exactly been a smooth transition for the club following their second straight relegation from the Championship last term, which was, in part, down to a six-point deduction after being found guilty of breaching the EFL's PSR regulations.

After seven league matches, Leicester currently find themselves 14th in the table, having won just two of those fixtures, with pressure already mounting on Russell Martin.

It also remains to be seen whether City's current ownership group, King Power, will stick around in the East Midlands for much longer, with Aiyawatt Srivaddhanaprabha also under intense pressure to pass his current power into the hands of a new chairman.

One of the more high-profile names linked with a potential takeover is Saudi Arabian boxing mogul, Turki Alalshikh, but what is the latest on this front?

Turki Alalshikh was sounded out over potential Leicester City takeover in September

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Indeed, it was reported by talkSPORT in September that the tycoon had been sounded out over a potential takeover move, with it initially being claimed that those wanting to invest in the Foxes had until Monday, September 14th to make their intentions known to King Power.

Alalshikh has been in the headlines over the past year due to his interest in clubs such as Bristol City, Southampton and Derby County, before pulling out of a deal at Pride Park in July, even though it was ratified by the EFL and the Independent Football Regulator.

It has been claimed that the Leicester hierarchy were eyeing up as much as £222m in a fresh takeover agreement, having joined forces with American investment firm, Citigroup, to publish an eight-page dossier involving key information about the club's history, current situation and key assets to interested parties.

However, talk of a takeover has since chilled in recent weeks after it was confirmed that King Power had converted £8.5m of debt into equity.

Turki Alalshikh issues worrying health update amid Leicester City takeover links

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Alalshikh is said to have a current net worth in the region of £2.08bn, meaning it is no surprise that some Leicester fans are excited over the aforementioned takeover links, whilst others have taken a more reserved outlook on proceedings given his previous feats.

However, it may be that the boxing tycoon could miss out on a takeover of the club due to unfortunate circumstances, having revealed in a press conference ahead of the upcoming fight between Tyson Fury and Anthony Joshua in Cardiff.

“I don’t know if in a couple of years I will remember this moment," Alalshikh claimed.

“My health in the last four months is not good. I come here only for the fighters."

Leicester City fans will hope takeover saga is resolved in the near future

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The mood amongst Leicester's fanbase at present is hardly one of positivity, which could be added if the takeover saga at the King Power Stadium is resolved sooner rather than later.

However, at present, it appears that there are more questions than answers, which only adds to the feeling of uncertainty surrounding the club, both on and off the pitch.

As previously mentioned, Alalshikh's revelation of his personal wellbeing may change the landscape of any negotiations, if they are to progress in the coming weeks and months.

Peterborough United on October 10th.