Leicester City up for sale: From being Premier League champions once to being sold while playing in League One

Leicester City are set to find new owners after the current King Power group put it up for sale. (Image credits – CommonsWikipedia, License Details

We all know about Leicester City's rise in 2016, when they won the Premier League, creating one of the most dramatic success stories in the league.

After a decade, the Foxes are looking for a new owner. King Power is seeking around €200 million for the sale.

Citigroup, a US investment bank, has been brought in to handle the process, with potential investors receiving an eight-page sales document titled "Project Lineup".

This announcement has sparked excitement among Leicester fans, as it provides a ray of hope for the club's future.

The proposed package from the club includes both the Foxes' men's and women's teams. The physical assets have been valued at around £224 million, though the brochure does not provide a separate valuation for the playing squads.

The King Power group has owned the club since it took over in 2010. Leicester won promotion to the Premier League and then stunned everyone by winning the title.

However, since winning the FA Cup in 2021, the club's fortunes have declined dramatically. Leicester were relegated from the Premier League during the 2022-23 season.

They won the Championship once more but were relegated again in 2025. Their 2025-26 season was yet another disastrous one, as they were relegated for the second time in a row, dropping to the third-tier league for the first time in history.

Financial issues have been the root cause of the club's downfall. King Power has owned Leicester for 16 years, which had both the highest and lowest points.

The Srivaddhanaprabha family has a strong emotional attachment to the club and has always shown respect to the players and fans. Following his father's tragic death in a helicopter crash, Aiyawatt Srivaddhanaprabha took over as chairman, and the club has never recovered.

Now, the same group is preparing to sell the club. The saddest thing about being a Foxes fan right now is that they can't seem to catch a break.

Lots of things are to be seen. With such a high valuation, it remains to be seen whether any investors are willing to match it. A club that was once purchased for €35 million is now poised to be sold for €200 million and enter a new era.