Overview
- Citigroup circulated an eight-page sales brochure called “Project Lineup” that formally markets Leicester City and a bundled portfolio to prospective buyers, a development reported on Aug. 12.
- The package on offer includes the men’s and women’s teams, the Category One academy, King Power Stadium, the Seagrave training centre, Belvoir Drive and partner club OH Leuven.
- The Athletic and other outlets reported the owners are seeking about US$300 million for the package while an anonymous source said a completed sale is likelier nearer US$200 million because of the club’s decline.
- Leicester’s published accounts show consecutive large pre-tax losses in recent seasons and material bank debt, factors that analysts say will reduce investor appetite and the achievable sale price.
- Fans’ frustration and the Srivaddhanaprabha family’s strong emotional ties to the club complicate the process, and market interest will be shaped by who can supply the funding and sporting plan to return the club to higher divisions.