Switch of owner at Leicester City to reap big benefits
Leicester City chairman Aiyawatt Raksriaksorn believes changing the club's ownership, so it will be directly controlled by King Power International, will prepare the club for life in the Premier League.
City have been transferred from under the ownership of Asia Football Investments, which is run by the Raksriaksorn family, to becoming a key part of King Power International Company Limited, which is run by City chairman Vichai Raksriaksorn.
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Aiyawatt Raksriaksorn and his father Vichai
King Power International is the parent and holding company of the King Power Group of companies, ranked among the top-10 duty free operators worldwide, and has received numerous global industry awards for its operations.
The group's core businesses in Thailand include airport and airline retail shops, hotel, theatre, downtown duty free malls in Bangkok and Pattaya, and sports.
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Prior to this announcement, Leicester City had been wholly owned by the Raksriaksorn Family through Asia Football Investments, a Singapore-based company.
"Bringing Leicester City under the direct ownership of King Power International, the Raksriaksorn family have underlined their long-term commitment to Leicester City, its fans and its business partners to achieving lasting, sustainable success for Leicester City," a club spokesman said.
There is no change in the board or management of the club, and the takeover has been fully approved by the Football League.
"This is all part of our plan to fund and deliver a programme of long-term, sustainable success for the football club," said Aiyawatt Raksriaksorn.
"We are delighted to bring Leicester City directly under the ownership of King Power International, where it will be established as a core part of the group's overall interests.
"The last two years have been an incredible experience and we firmly believe we have the key elements in place, both on and off the pitch, to take Leicester City back to the Premier League.
"I would like to personally thank the Leicester City fans, and the people of Leicestershire, for the amazing support they have already shown us in the early stages of our long-term vision for the club, and look forward to success."
Comments
by chaz31251
Thursday, September 20 2012, 6:32PM
“"RNLI" ANYONE”
by TheGeofflane
Thursday, September 20 2012, 12:23PM
“Of course it's about money, Ghost of 66. When I started watching City we were owned by small-time builders and other small businessmen. Despite our crowds, I watched better-funded clubs become giants while we hovered between divisions. Our Thais appear to be doing things the right way, ( a training ground before a Jordan Rhodes), but they want the riches of the Premiership and if Nigel doesn't bring them soon he will go. Big businessmen are ruthless by nature. They've learned their Sven lesson. I hope they win with Nigel.”
by lcfctilidie
Wednesday, September 19 2012, 2:16PM
“I actually don't think they will sack NP unless end of season we fail get promoted. I think they switched tactics from the Sven reign. They decided on a manager that would build a team from youth and develop into a long term team. NP was not a high profile manager and their goals seem to be long term instead of short. Sven was supposed to be a quick fix. They realised it doesn't work like that any more. They have authorised the buying of young players with potential hoping the coach can turn them into great players.
I personally think we got worse when Chris Powell left. He was obviously a great coach and his work behind the seams made us a better team.”
by ghostof66
Wednesday, September 19 2012, 1:40PM
“mmmmm, not sure about this!
It just confirms that football is now in the hands of businesses that may or may not be able to sustain the support that clubs do.
It aint about the fans anymore its about "can we make any money for us!"”
by FoxFreak
Wednesday, September 19 2012, 12:33PM
“It could be to make it easier for them to set off LCFC's losses against the profits made by the rest of the King Power operation, thereby reducing King Power's tax liability in Thailand.
I still believe Top and Father Top are in it for the long haul. People who aren't don't usually spend 5 million quid upgrading the training ground.
However, I just hope they don't take too short-termist an approach and start sacking managers agan.
If a new man comes in now, he's got to try and motivate a bunch of players who weren't his pick, play the loan market and bring in players whose loyalties will almost by definition be divided and play the January transfer market when, as we all know, prices become even more out of touch with reality than they are already.
Steady as she goes, skipper, and don't change course (again) after a couple of squalls.”
by truthtooth
Wednesday, September 19 2012, 10:08AM
“Didn't read Pearson being a key element foxeerod ? And managers don't want a vote of confidence from the board it usually means the sack . Pearson needs to see the next two games are his key elements as I guarantee he knows that . Starting with a good win tonight .”
by foxeerod
Wednesday, September 19 2012, 9:18AM
“luck”
by foxeerod
Wednesday, September 19 2012, 9:17AM
“hard luc foxfan , dobbo etc etc. NP wont be going anywhere .... he is a key element !!”