Leicester City Up for Sale: King Power Sets Friday Bid Deadline with £225m Asking Price

King Power Sets Friday Deadline for Leicester City Takeover Bids

Leicester City's Thai owners have set a Friday deadline for potential buyers to submit takeover bids, formally opening the endgame of a sale process that could end the Srivaddhanaprabha family's 16-year ownership of the club.

Sky News has learnt that bankers at Citi, who are advising King Power on the process, have told interested parties to table their offers by the end of this week. The identity of any serious bidders remained unclear, though one football insider suggested the deadline had been pushed back to accommodate other parties.

A Record Price for the Third Tier

The family is reportedly seeking up to £225 million for the Foxes — a valuation that would comfortably shatter the existing record for a takeover of a club playing in League One. The asking price reflects both the club's Premier League-winning pedigree and the commercial infrastructure built during more than a decade and a half of Thai ownership.

From Champions to League One

King Power, led by the Srivaddhanaprabha family, bought Leicester City in 2010 and oversaw the most improbable triumph in modern English football: the 2015-16 Premier League title won at pre-season odds of 5,000-1. But back-to-back relegations have since dropped the club from the Premier League into the third tier, where they currently sit 17th in League One.

The sale process began earlier this year as the family evaluated its position following the club's sporting decline. A deal at anything close to the reported valuation would mark the first sale of a former Premier League champion at such a low point in the football pyramid — and a historic moment for the third tier of the English game.

A Defining Week Off the Pitch

The timing is striking. The auction timetable lands in a crucial week for English football governance, with the new independent regulator publishing its inaugural State of the Game report — a document that has already cast fresh scrutiny on club ownership models and financial sustainability across the pyramid.

For Leicester supporters, the next few days will decide whether the era that delivered a Premier League title, an FA Cup and European nights ends with a transformative sale — or with owners forced to keep funding a League One rebuild.