King Power International becomes Leicester City’s direct owner.
Leicester City is delighted to announce that King Power International Company Limited (KPI), has taken direct ownership of the Football Club.
KPI is owned by the Raksriaksorn Family and is the parent and holding company of King Power Group of companies, ranked amongst the Top 10 duty free operators worldwide, and has received numerous global industry awards for its operations. The Group’s core businesses in Thailand include Airport and Airline retail shops, hotel, theatre, downtown Duty Free malls in Bangkok and Pattaya and sports.
Prior to this announcement, Leicester City had been wholly owned by the Raksriaksorn Family through Asia Football Investments (AFI), a Singapore-based company. Bringing Leicester City under the direct ownership of King Power International, the Raksriaksorn Family have underlined their long term commitment to Leicester City, its fans and its business partners to achieving lasting, sustainable success for Leicester City. There is no change in the Board or management of the Football Club.
The takeover has been fully approved by the Football League.
Club Statement
posted on 18/9/12
Interesting. This sounds like a good thing, in the sense that there's no doubt about minor ownership now. (If there eve was.)
posted on 18/9/12
Hmmmm......
I wonder if anyone on this board familiar with these arcane matters can offer us a view on what this might REALLY mean. I don't want to sound too sceptical, but there is usually some hard-nosed financial motivation behind such moves as this. If that chimes with what is good for LCFC in the long term, fine. If not, it will be as well to know.
posted on 18/9/12
^
Calling JohnGee.
posted on 18/9/12
I agree - I'm very cynical of things like this.
My cynical head would say that tying us to KP directly would mean that if for any reason KP were to go under, we'd go with them.
KP are profitable and powerful because they have a monopoly in Thailand supported by a sympathetic government. If someone were to challenge this ten KP may have more bargaining power.
More probable (but equally cynical) is that the "minor party" has pulled the plug due to our lack of progress and premiership football. My worry is that this "minor party" may have been the major funder!!!
Even if the above is true, I have faith that KP will do the right thing by us if they can. My worry is that our fate is now fully in the hands of a business reliant on a monopoly and government backing.
Fingers crossed eh?!!
This most certainly is a thread for Johngee. Where is he by the way - I'm strangly missing him!
posted on 18/9/12
Does this mean then that as we are now part of KPI rather than a company owned by them we show up as making a profit. By that I mean KPI make a profit it just so happens the leicester arm of the company doesnt. Lots of companies have areas that don't make profits but other areas succeed. Is this the case with us and KPI I wonder?
posted on 18/9/12
I agree with most posts here. Also, cynical and do not see it as a wonderful statement as some elsewhere appear to think. Must be to offset their tax and accounts with LCFC being the chief loss maker at the moment. Also, wonder if this effects NP's contract somewhat. All this chopping and changing does not look good with no doubt more to come.
posted on 18/9/12
Were a tax right off now !!!!!!!