Leicester City exclusive: Deal is agreed to buy King Power Stadium
Leicester City's owners have agreed a £17million deal to buy the King Power Stadium, it was revealed today.
The Srivaddhanaprabha family say the deal underlines their long-term commitment to the club.
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Leicester City's owners say the purchase of the King Power Stadium shows their long-term commitment to the club
The owners, led by chairman Vichai Srivaddhanaprabha, have bought the stadium through their company K Power Holdings Co Ltd from previous owners Teachers Insurance, an American pension fund manager.
The 32,262-seater stadium was built at a cost of £37m and, following City's administration, part of the deal which brought the club out of receivership saw ownership of the stadium revert to Teachers.
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They had supplied £28m via a bond scheme towards the stadium's construction, with the club taking a long-term lease while the bond repayments were made.
Vice-chairman Aiyawatt Srivaddhanaprabha said it was always the family's intention to purchase the stadium, which now carries the name of the family's international business.
He said the deal was a key part of their long-term plan for the development of the club into an established Premier League club, and would help sustain long-term success.
Srivaddhanaprabha also said the purchase would allow City to develop the stadium in the future, if they choose to increase the capacity.
"It has always been part of our long-term vision to put the stadium back where it belongs, into the hands of the football club," he said.
"While there are no immediate plans to alter the structure or design of the stadium site, the increased flexibility through direct ownership ensures that the football club can freely adjust to the changing needs of its supporter-base for the future."
City chief executive officer Susan Whelan said the removal of the debt to a third party ensures the club can move forward on an even stronger financial footing.
"The stadium already bears the proud name of King Power, but this latest development truly makes the home of Leicester City part of the Srivaddhanaprabha family's central business and sporting interests," she said.
City moved to the King Power Stadium from their previous Filbert Street home in July 2002, and it has the 19th largest stadium capacity in England, at 32,262.




47 Comments
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by foxfan1
Saturday, March 02 2013, 11:10AM
“Doubledecker... thank you, I forgot to mention Tom Cleverley in that crop of Fergies "mega millions" home grown imports :)”
by foxfan1
Saturday, March 02 2013, 11:04AM
“Well said Ash !!!! Common sense & someone who appreciates the FACT that Mandaric dug deep into his pockets & was the only one willing to do so when we were "HOURS" away from going out of business. There are no fortunes to be made today by owning football clubs!!
& as far as LuLuJones comments on Manchester United ruling the premiership with an iron fist & securing talent from abroad. The majority of clubs in the top two flights employ talent from abroad...errr it's probably because talent from abroad has more talent than talent from at home LuLu!! Can you tell me with foreign clubs & the mega millions involved that Ferguson used to secure the likes of Darren Fletcher, Johnny Evans, Danny Welbeck, Chris Smalling...bet the likes of Barcelona & Milan are rubbing their hands with glee at the millions United paid for that lot!!
and as for your so called FACTS about the Bundesliga being the best in the world...how come the Bundesliga isn't shown "live" all over the world, yet the Premier league is? Must be that all these soccer channels & millions of fans worldwide just love showing/watching second best then?
I live in the U.S. and am able to watch Premiership games all weekend long....funny, can't seem to find those fantastic Bundesliga games on there though....hmmmmmmmmmmm”
by tazzyboy1
Saturday, March 02 2013, 8:50AM
“DeckerDecker, To be fair you do make one or two valid points, i dont particularly agree with them but they are worth some discussion all the same BUT you are still skirting around the main point of the question,.....WHERE was the BRITISH investment when we needed it most?....other than Lineker, Heskey and a few others who dipped into their own pockets to stave off immediate action against us the main investment and the ultimate aim of saving the club came from Milan Mandaric, love him or loathe him you surely cannot deny that??......i, personally will ALWAYS be forever grateful to the mans involvement in the club!”
by DeckerDecker
Saturday, March 02 2013, 3:09AM
“@Kapero: "Against Real Madrid recently, MU fielded 5 Englishmen to RM's 4 Spaniards."
Is this your argument against those who suggest there is a problem with the development of English talent? If it is, I need to warn you... Real Madrid or no, the Spanish FA has won the last three tournaments it entered, so I really don't think the comparison you are making is going to get you far.
The system we have in England is chronically skewed in favour of the big clubs. Man Utd hoover up all the decent players they can get their hands on. They can get away with this because excess players like Tom Cleverly or Michael Keane are farmed out to clubs like Leicester who gratefully help with their development. If a club like Leicester or Crystal Palace has the temerity to find a decent player like Schlupp or Zaha they are soon denuded of their asset.
Time was when any club could get a decent manager who built a decent squad could win the league. That's how Huddersfield, Portsmouth, Ipswich, Derby, Forest and how many others managed it! Since the Premier League only the massively bankrolled clubs have won the league. Well that's the future, people. The Blackburn experience will not be repeated (that was in the early days of nouveaux riches), who is going to predict a Premier League winner who is not from London or Manchester? Even the Liverpool teams, both of whom were title winners in the 80's, can't get sufficient quality players to win again in the mega-bucks era.
That is because it is about MONEY, not heritage, and the money the Premier League has attracts mercenaries who benefit those cities with an international reknown. It's all over, Leicester fans. Unless you are from Madrid/Barcelona, London/Manchester, Turin/Milan, Munich/Munich, you CANNOT make it on a continental scale, and probably not even national.
The days of Derby and Forest winning titles - much as we might have hated it at the time - were a sign of health in the English game, which is now gone.
The Thais know that if they can get this club into the Premier League, one years money will get them their investment back. If we can survive a season, they will be in profit. Even if we do go straight back down they will have had some benefit from having their company name marketed 38 times world wide in the interim.
In the meantime don't let any of these people who have STOLEN ENGLISH FOOTBALL kid you that they have done you a favour.”
by DeckerDecker
Saturday, March 02 2013, 2:14AM
“Most priceless quote of the decade: "without milan,we would have been another portsmouth"
Without the man who made the car crash on the south coast, we could have been another car crash on the south coast. Is that what you are saying?
Guess what, my friend. We were. Five managers in 12 months - lets face it, he made his name sacking multiple Portsmouth managers - and we found our way to the Third Division for the first time EVER.
Hours away from extinction? Lets put this one to bed once and for all. When Mandaric came along, we weren't even in in administration. To say we were on the brink is nothing short of a lie. If needs be, we could have gone back into administration, shed a load of debts and re-emerged. It takes an awful lot to kill a football club, loads have been far worse off than Leicester and are still going. All Mandaric did was save us from a 10 point deduction, which might have relegated us, but since he relegated us anyway, with his revolving door managerial style, I don't think we owe him anything.”
by ash1967
Friday, March 01 2013, 7:38PM
“Great news to hear that the ground is once again Leicester City's, the owners have stuck to their word from the start, as for certain posters giving Milan Mandaric stick, well I can only say, very short memory spans, when Milans Sheffield Wednesday come a wheel on Saturday, I will be the first to shake his hand, if I get a chance because there would be a big queue, he saved us, developed us and sold us to in his own words to a family who will move the club forward, well we are moving forward. Thank you”
by johnnylcfc
Friday, March 01 2013, 7:05PM
“Totally agree with Tazzyboy on this one,without milan,we would have been another portsmouth,and as for our currant owners,big up to them,i thank you for your welcomed support in our club and always will,you will always get my continued support while you continue to support us,THANK YOU...........On another topic on here,i am not happy with the continued program change,due to sky sports etc,its not fair on the supporter who can maybe make saturday games ok,but not midweek as is happening at the moment,i travel 160 mile round trip to every game,and is does annoy me when i keep seeing these games being changed for sky etc,my point is i have a 11 year old that i would much rather him in bed before 1am in the morning,then having to go to school the next day,ok wernt so bad when we lived in leicester ten minute drive home,there must be loads of parents on here in the same boat,yes the club gets 170,000 or what ever sky pays,but as i said on another thread the other day,just look how it affects the general turnout at the turnstiles,19,000 it should be at least 25,000 plus for that sort of game,i could stay in lincolnshire for the rest of the season and watch most of our matches on tv ,but i choose to come and support the players,which must give them a huge boost to come out and see a good crowd cheering them on as it used to be at filbert street,BEFORE SKY TOOK OVER THE TV NETWORK, what worries nme is that the way things are going,the players will be running out to empty stadiums,hope people understand were im coming from,all the best to everyone this season,A TRUE BLUE,,,,,,CONCERNED.”
by ghostof66pah
Friday, March 01 2013, 7:00PM
“Steady on how you use the word Ghost there TAZZBOY!!
I agree with you on the Brits leaving us high and dry.. It is obvious that English/Brits have dumped the game for the glory of making their fortune and running to sunnier climbs. Over the years "our own" have jumped ship and let the foreigners take over.
And when we were at our lowest point, (along with some local saviours) Lineker and Heskey (How can any City fan knock this guy?) were there for us and helped and later MM scooped us up and lead us to where we are today, passing the baton to our current owners who to be fair have giving the club the stability that we need to progress.
On the other hand, maybe the English/Brits are not so stupid and see that anyone who invests in a football club cannot make any money unless they cover their investment against the club?”
by tazzyboy1
Friday, March 01 2013, 5:49PM
“It's alright lolojones and the other Mandaric knockers laying to rest their own personal "no foreign owners" ghosts but they ALL seem to have omitted ONE main fact, when LCFC was hours away from extinction at that dark eleventh hour WHERE were the ENGLISH / BRITISH buyers for the club????....where were the Leicestershire born and bred millionaires that had minted their fortunes over the years???......nowhere to be seen, that's where!...so before Lolo and his "Mandaric knocker"" mates start eulogising about the downsides of foreign owners and investment in OUR club, just remember, when we needed someone most, it was a serbian who came calling to put HIS money in to carry us through the next few years and keep the wolf from the door, it's down to Mr Milan Mandaric that we STILL have a club today that lolo and his pals can **** off, so what if he made a bob or two out of it, big deal! he gave us money, time and a future AND found us buyers that have sunk millions of THEIR own cash in as well AND just purchased the ground outright, i dunno about you but i would gladly buy him a beer if i ever met him which is more than i'd ever do for negative fans!”
by AmitCityFan
Friday, March 01 2013, 5:12PM
“The NFL, where unfashionable teams have won the Superbowl in recent years... Are you crazy, all the teams that have won in the past years have dynasties - or have pro bowl quality players.
The New England patriots - Dynasty Team-Won multiple superbowls
Green Bay - Dynasty Team-Won multiple superbowls
New York Giants - Dynasty Team -Won multiple superbowls
New Orleans Saints - Best QB (when looking at stats) in the league, and multiple pro bowl players. They have also been in the playoffs multiple times in the past 10 years.
Pittburgh Steelers - Dynasty Team -Won multiple superbowls
Baltimore Ravens - Won Multiple Superbowls
There are always the occasional surprise - Like Tampa Bay winning in 2003, but I seem to remember Blackburn Rovers winning the premiership.
The draft system is a **** shoot - you aren't getting finished prospects... You are gambling if the player will be good in the years to come. For example, Aaron Rodgers is one of the NFL's top Quarter backs - but he wasn't drafted first, in fact he was the 24th pick because people doubted his abilities. Then you have Reggie Bush, at the Saints, who was drafted 1st and was expected to be amazing - but faltered when playing against pros compared to college level.
Also, if a top team is is in severe need of a top player - they will 'throw' their season to get him, thus ensuring their futures. The Colts came under a huge amount of media outrage two seasons ago for this, and it was known that they had a keen interest to draft Andrew Luck. So this system is not without it's flaws and controversy.
As for the Salary cap, this stops teams from retaining good players for years, because they can't keep them all on the roster - but it doesn't stop players from getting the wages they want. "You can't pay me 80 mil over 4 years, well i'll go to a team that can". This means increased fan frustration at not being able to keep a stable team. Also NFL players, and NHL players, are known to go on 'lockouts' that delay (or completely stop) seasons to increase the salary cap limits or their own benefits.
Revenue is shared, but the big teams make the most in sponsorship and endorsement dollars. This also reflects on a players decision to join a team... if I wear a Patriots jersey, i'll make more in shirt sales and endorsements than if I play for the Bengals.
So before we go saying other league models are better, we should looks at their flaws too.”