UK. Leicester City Football Club (LCFC) has announced that an international consortium, Asia Football Investments, led by King Power International Group (Thailand), has acquired the Championship club.
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The consortium is led by Aiyawatt Raksriaksorn of the Raksriaksorn family that owns King Power, the leading Thai duty free retailer. King Power last week struck a three-year shirt sponsorship deal with LCFC.
Club Chairman Milan Mandaric will remain in his post and is a stakeholder in the new consortium. CEO Lee Hoos and the management team will also remain in place.
“We are delighted that Asia Football Investments has secured this exciting deal,” Aiyawatt said. “I am passionate about football and I see in Leicester City a club with tremendous passion and potential; it has excellent management on and off the pitch and I am convinced that it has the right mix of ambition and realism to drive the team, and club, forward.”
He added: “I look forward to getting behind the new manager and his team and to enjoying real progress, which I know the fans crave and deserve.”
Hoos welcomed the new consortium and stated that the partnership is ‘transformational’ and ‘unique’.
He said: “It provides a real opportunity for Leicester to grow and transform its status over the next few months and years; we are of course realistic and we wish to assure supporters that this deal will not pile the pressure on the football manager and create unreal expectations.”
Milan Mandaric concluded: “In celebrating the deal I would also like to thank everyone who has believed and continues to believe in my work here which started in 2007. LCFC has demonstrated an incredible fighting spirit to reach this point where global investors sense the opportunity and feel able to back our plans.
“The road to recovery on and off the pitch has not been easy but the supporters, executives and the entire squad have shown real commitment and I know that it will now continue as the new 2010/11 season gets under way and as we plan for further exciting developments in the near future.”
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