Premier League: Leicester City chairman relieves club debt
Leicester City Chairman Aiyawatt Srivaddhanaprabha has relieved the Club of its outstanding debts to its parent company, King Power International.
Over £194M in loans and related interest has been capitalised into equity issued to King Power International Co Limited (KPI), which is wholly owned by the Srivaddhanaprabha family.
Since the family took over the club in 2010 they have overseen the most successful period in the club's history, winning the Premier League in 2016, reaching the Champions League quarter finals the following year as well as winning the FA Cup in 2021.
Leicester City Chairman Aiyawatt 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.”