Foxes chairman relieves club of £194m in debts
Leicester City chairman Aiyawatt Srivaddhanaprabha has relieved the club of around £194m in debts owed to its parent company King Power International – the second time the process has been completed since the Srivaddhanaprabha family took over the Foxes in 2010.
The sizeable sum, comprising loans and related interest, has been capitalised into equity issued to King Power International Co Limited (KPI), which is wholly owned by the family.
The loans were issued over a four-year period and used to fund investment in the men’s playing squad, the Foxes’ women’s team and the club’s new training ground at Seagrave.
Srivaddhanaprabha said: “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.
“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.”