Leicester City could be heading for a major change behind the scenes, with Thai owners King Power reportedly preparing to sell the club after 16 years at the helm.

The Foxes have reportedly hired US investment bank Citigroup to help oversee the sale, with an eight page brochure titled Project Lineup outlining the club, its women’s team, King Power Stadium, Seagrave training facility and Belgian sister club OH Leuven.

The physical assets are valued at more than £200 million, although no specific asking price has been attached to the football teams themselves. The sales pitch leans heavily on Leicester’s history, including their stunning 2016 Premier League title and FA Cup success in 2021.

However, the club’s recent struggles paint a very different picture. Leicester have suffered back-to-back relegations from the Premier League and Championship and now find themselves in League One, while their financial difficulties have continued to pile up.

The club reportedly lost more than £180 million during its turbulent spell between the Premier League and Championship, while its 2025 accounts listed £103.6 million in bank loans. Despite the financial baggage and steep fall down the English football pyramid, King Power appears ready to bring its 16-year ownership of Leicester City to an end.