Struggling Leicester City owners seek takeover bids this week

The Thai owners of Leicester City Football Club have asked potential bidders to submit offers this week as they seek an exit a decade after winning English football's biggest prize.

Sky News has learnt that bankers at Citi, who are advising King Power on the process, have told interested parties to table bids on Friday.

The timetable has emerged months after the Srivaddhanaprabha family, which bought the Foxes in 2010, launched a sale process for the struggling League One club.

The identity of any serious bidders was unclear on Monday - although one football insider said the deadline had been pushed back to accommodate other parties.

Since winning the Premier League in 2016 and qualifying for Europe's most prestigious club competition, Leicester City have endured a series of crises, including the tragic death of Vichai Srivaddhanaprabha in a helicopter crash close to the King Power Stadium in 2018.

The club has experienced back-to-back relegations, and currently sit in 17th place in English football's third tier.

Reports have suggested that King Power is seeking as much as £225m from any buyer of the club, which owns training facilities ranking among the best in the country.

However, a sale at anything like that valuation would represent a record for a club at that level of the game.

News of the auction timetable comes during a crucial week for English football, with the sport's new regulator due to publish its inaugural State of the Game report on Tuesday.

Sky News revealed last week that the document will conclude that 94% of professional clubs are lossmaking, with 97% operating with operating costs exceeding their turnover.

Leicester City declined to comment.

(c) Sky News 2026: Struggling Leicester City owners seek takeover bids this week