Friday, 1 March 2013

Club owners buy King Power Stadium

Leicester City's Thai owners have further increased their stakeholding in the football club with news today that they have purchased the King Power Stadium.

With their name above the door on an existing sponsorship deal and the majority shareholding of the club, the Srivaddhanaprabha family have furthered their commitment to the club with a £17 million investment to purchase the remainder of the stadium from Teachers, an American pension fund who acquired the ground when the club entered administration in 2003.

The stadium deal, which sees ownership transfer not to the football club but to King Power Holdings, frees £1.5 million in annual rental that the Foxes were paying to Teachers and makes the King Power group and their owners the sole creditors of the club.

It is unknown how much the Srivaddhanaprabhas have invested in the club and how much they have offered as loans.
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