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Birmingham Post
Birmingham Post
Business
Tom Pegden

Leicester City FC owner commits to club by turning £194m of loans into equity

Leicester City Leicester City FC Leicester Aiyawatt Srivaddhanaprabha

The Thai owner of Leicester City FC says he has committed to its financial security by turning £194 million of loans into equity.

Chairman Aiyawatt Srivaddhanaprabha said he had relieved the club of the debts to its parent company, Thai duty free group King Power International.

It means money loaned to the club over the last four years has been turned into a formal stake – strengthening the balance sheet, cutting interest costs and indicating King Power International’s commitment to supporting City in the long-term.

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