Leicester City Owners Purchase Stadium
Fri 1st Mar 2013 | Football Stadiums & Facilities
Leicester City’s owners the Srivaddhanaprabha family, have completed the purchase of King Power Stadium.
The purchase of the stadium site by the club’s owners, through their K Power Holdings Co Ltd, from its previous owners, an American pension fund manager, forms a key part of the family’s plans to safeguard the Club’s long-term future.
Speaking of the purchase, Aiyawatt Srivaddhanaprabha, Vice Chairman of Leicester City Football Club, said: “It has always been part of our long-term vision to put the stadium back where it belongs, into the hands of the Football Club.
“Our plan is to bring long-term sustainable success to Leicester City Football Club. Purchasing the stadium was always a key element in this plan. The previous stadium owners have always been very cooperative.
“Whilst there are no immediate plans to alter the structure or design of the stadium site, the increased flexibility through direct ownership ensures that the Football Club can freely adjust to the changing needs of its supporter-base for the future.”
In September 2012, the Srivaddhanaprabha family placed Leicester City under the direct ownership of King Power International (KPI) - the parent and holding company of the globally successful and respected King Power Group of companies. The purchase of King Power Stadium further highlights the family’s long-term vision to deliver sustainable success for the Football Club.
“The stadium already bears the proud name of King Power, but this latest development truly makes the home of Leicester City part of the Srivaddhanaprabha family’s central business and sporting interests,” added Susan Whelan, Leicester City’s Chief Executive Officer.
“For firstly the Football Club, and now its magnificent stadium to be aligned so closely with a group of companies of such global success and repute can only be beneficial for the future of Leicester City, while the removal of all significant third party debt ensures a more sound financial position from which the Club can progress.”
Posted by: Aaron Gourley
If you have any football business related news stories you’d like to share then please contact us – email@example.com
Fri 24th May 2013 | Football Stadiums & Facilities
Following a hugely successful season both on and off-the pitch Watford FC and Lindley Venue Catering have forged a new £18 million deal extending the caterer’s original five-year contract...
Tue 21st May 2013 | Football Stadiums & Facilities
Liverpool FC is giving its fans the opportunity to go behind the scenes at the club’s first team training ground, Melwood, for the first ever time. Melwood has been LFC’s training ground...
Fri 17th May 2013 | Football Stadiums & Facilities
A fantastic footballing year for Wales has ended with Swansea City adding another trophy to this season’s list of achievements, after Dan Duffy was named Barclays Premier League Groundsman of...