Leicester, Premier League champions in 2016, put up for sale after drop to third tier

Leicester City has been put up for sale, according to BBC Sport. The club's Thai owners, who have been in charge for sixteen years, are looking to offload the structure for a sum exceeding €230 million. To facilitate the sale, a major American bank has prepared an eight-page sales dossier at the club's request.

The Srivaddhanaprabha family acquired the club in 2010 for just over €40 million. Their tenure has been a rollercoaster: Leicester won the Premier League in 2016 in stunning fashion, just two years after climbing back to the top flight, and added an FA Cup in 2021. However, the club has since spiralled downwards, landing in League One, England's third division.

Financial troubles have multiplied. Last season, Leicester was hit with a six-point deduction for breaching financial sustainability rules, and the club has suffered two consecutive relegations. From being the most unexpected Premier League champions a decade ago, the Midlands outfit now prepares to start the season in the third tier.