Aiyawatt Srivaddhanaprabha wipes out debt as statement makes 'ownership' clear

Leicester City chairman Aiyawatt ‘Top’ Srivaddhanaprabha and parent company King Power have wiped out more of the club's debt.

The Foxes have confirmed issuing new shares to King Power International which converts £8.5m of debt to equity.

In a statement, the club said: “Leicester City Football Club has completed a further issue of shares to King Power International, as filed with Companies House this week.

“The allotment of new shares to our parent company converts £8.5million of recently provided funding into equity. This funding provides further financial support for the Club’s ongoing operations.

“There has been no change to the ownership structure or composition of the Club, which remains ultimately and beneficially owned by the Srivaddhanaprabha family.”

It is the latest debt to equity conversion by City, after £124m worth of debt was converted to equity in January last year and £194m worth of debt was converted to shares on New Year’s Eve 2022.

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