Thai EPL football chairman relieves Leicester of outstanding debts of 8 billion baht to King Power International

[webfact]

The Srivaddhanaprabha family have overseen Leicester City's rise to Premier League, their title success in 2016 and their FA Cup victory in 2021

Leicester chairman Aiyawatt Srivaddhanaprabha has cleared the club's outstanding £194m debt to parent company King Power International (KPI).

 

The club owed the amount in loans to KPI, which is owned by the Srivaddhanaprabha family.

 

A debt-to-equity transfer to KPI was completed to relieve the club of its outstanding debts.

 

Leicester said the move was evidence of "KPI's commitment to supporting the club's long-term sustainability".

 

Full story: https://www.bbc.com/sport/football/64483794

 

-- © Copyright BBC 2023-02-02

 

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[hotchilli]

That's a lot of money, secong time a large debt has been cleared.

[RandolphGB]

Ill gotten gains from a  duty free monopoly 

[herfiehandbag]

The Thai influence is clear - some good "pointing"!

Edited February 2, 2023 by herfiehandbag

[Grusa]

I really do not understand the obsession that makes football.......watching not playing.......worth so much money. 

[d4dang]

call Chuwit

 

[blazes]

 

I wonder if Mrs Vardy's legal debts will be folded into that write-off?