The Srivaddhanaprabha family, owners of Leicester City, has reportedly initiated the sale of the English football club and its entire sports ecosystem. This significant decision comes in the wake of severe financial difficulties and a period of unsatisfactory on-field performance for the Foxes.
According to recent reports, the Srivaddhanaprabha family has launched a formal process to divest their ownership of Leicester City and its associated assets under the codename “Project Lineup.” This complex sale, which includes the club’s comprehensive sporting interests, is being managed by the prominent American investment bank Citigroup.
The anticipated sale price for the package is reportedly set around £222 million, equivalent to nearly $300 million USD. This comprehensive offering not only covers Leicester City but also encompasses OH Leuven, a Belgian club currently under the ownership and management of the same Thai billionaire family’s corporate group.
However, financial experts in the field suggest that the actual achievable value might be considerably lower, potentially closer to £148 million, or approximately $200 million USD. This revised valuation is primarily attributed to Leicester City’s recent relegation from the Premier League to League One, the third tier of English football, following their triumphant 2015-16 Premier League title win. Furthermore, the club’s latest financial reports indicated a substantial loss of approximately $96 million, adding to the financial pressures.
Despite the challenges, a particularly appealing aspect of this potential deal lies in the club’s extensive real estate portfolio, valued at an impressive $275 million. This includes the state-of-the-art King Power Stadium, the advanced Seagrave training center, and the Belvoir Drive grounds, all of which represent significant assets for any prospective buyer. Citigroup’s promotional materials for “Project Lineup” have underscored Leicester City’s historical success, labeling it as one of the most successful clubs in EFL history, complemented by a top-tier youth academy system.
The decision to put the club up for sale has undoubtedly surprised many football fans, especially given previous statements. As recently as early January, Aiyawatt Srivaddhanaprabha, the club’s chairman, had publicly affirmed that selling the club was not an option for his family and that their commitment to football remained strong. Nevertheless, the emergence of “Project Lineup” clearly indicates the substantial financial pressures faced by the Thai billionaire owners, compelling them to seek new capital sources amidst a prolonged period of financial strain for Leicester City.
