Another £14.6m pumped into Leicester City so far this season by King Power International
The owners of Leicester City have pumped a further £14.6 million into the club since the start of this season, it is revealed today.
The cash injection comes on top of the £61.6 million which had already been injected by King Power International since they took control in 2010.
The club said it had been assured further funding would be made available from the Thai business as City enter a crucial period in their push for promotion to the Premier League.
On Saturday, the club revealed it had made a loss of £29.7 million in the year to May 31, 2012 – believed to be the highest deficit ever racked up by a Championship club.
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A statement from the directors issued alongside the club's latest accounts said: "King Power International has confirmed that finance will be available to fund future trading and support the football strategy to achieve promotion back to the Premier League.
"Since June 1, 2012, £14.6 million of new funding has been provided and the directors are confident further funding will be provided as required."
The club said the money was used on players and improving the facilities at King Power Stadium.
On Friday, King Power revealed they had bought the stadium from American pension fund manager Teachers Insurance in a £17 million deal.
A statement in the accounts said the club had continued to incur trading losses in the five months to November 30, 2012.
Susan Whelan, City's chief executive, said on Saturday she was unable to provide further details on the club's financial performance so far this season.
The club's accounts do not say whether the £14.6 million of new funding is a loan.
Other cash provided by King Power, a duty-free retailer, has come in the form of loans.
The accounts show the majority of the £60 million plus which had been loaned to the club by King Power up until May 31, 2012, is subject to interest charges of 8 per cent.
City's £29.7 million loss last season has been blamed on a soaring wage bill built up during Sven-Goran Eriksson's reign as manager.
Salaries rocketed to £27.7 million from £16.6 million the previous season.
Eriksson was sacked by the club in October 2011, after serving just over a year as manager.
In a story in the Mercury on Saturday, the club chairman, Vichai Srivaddhanaprabha, said: "My vision is for Leicester City to take its place as a highly respected and successful Premier League club."