The last time Leicester went down into League One, this club had to sell their best players and do changes. After a carousel of managers being removed in a tempo few had seen before. The former owner Milan Mandaric, had the same habit of eating managers as this regime.
The situation then was at least in better control than what we see at the moment. Khun Top and his tongue is at the moment far from convincing. His talk is not the walk and according to a report from Mail Online, parachute money is allready used to fund loans.
The group of fans wanting a change in ownership are growing. That is a complex affair. The owner must himslef see a way out. Khun Top will not get a rest before this team is starting to win football games again. He will be forced to make more changes if things do not improve.
The fact that Jon Rudkin is still around, will not be accepted much longer by this fanbase. Many believe he should walk, and step down. Top could engange his wingman in a role away from this football club. That must be sorted out in some way. To have Jon Rudkin present at this football club at the moment looks far from ideal as the man himself must feel the pressure from everywhere.
Following confirmation of Leicester City’s relegation to League One, Chairman Aiyawatt Srivaddhanaprabha has issued the following statement:
— Leicester City (@LCFC) April 21, 2026
To our fans,
Relegation to League One is now confirmed. As Chairman, that responsibility sits with me. There are no excuses.
We have… pic.twitter.com/rKzmniJ34G
Leicester are far from a proper ran football club at the moment. Further failure will most certainly send this club into administration. Khun Top must also improve and make decisions going forward that will see him in a different light, as of now he looks far from equipped to take this club out of the problems we see at the moment.
Yesterday, after the game, Khun Top admitted to fans that he will try to keep it going. That might not be enough, just to try.
We are waiting for a fire sale of players and a new manager appointment. Strange to see Gary Rowett given a chance to continue when he is finished anyway.
Vague talk of a takeover has been there since January. Leicester are facing severe financial pressure. This second relegation in three years, and now down to League One, intensifying pressure on current owners to sell.
While Khun Top has previously stated the club is not for sale, citing his father’s legacy, the mounting financial, regulatory, and competitive difficulties have spurred speculation regarding potential buyers.
Potential interested parties or types of investors include: Middle Eastern/Saudi Investors: Due to the club’s high-profile recent history, including winning the Premier League and FA Cup.
Leicester is considered an attractive asset for Gulf sovereign wealth or private investors.
The following names and organisations have been mentioned as potential takeovers;
Sheikh Jassim bin Hamad Al Thani: Rumours have surfaced regarding a potential “astronomical” offer from a consortium linked to Sheikh Jassim, aimed at reviving the club’s fortunes.
“Prince” or Sovereign Wealth Fund: Owner Aiyawatt Srivaddhanaprabha has previously indicated he might only consider an exit if a “rich prince” or similar entity emerged with the financial power to elevate the club to a global level akin to Manchester City.
US Private Equity/Investment Firms: Similar to other Premier League/Championship clubs, US investors looking for assets in the English football pyramid could be interested, particularly if the price drops following relegation.
Ownership Situation (April 2026)
Current Status: Current owners continues to support the club, with previous debt-to-equity conversions in 2025 totalling £124m.
Sale Pressure: Fans have begun demanding a change in ownership amid a “disgraceful decline” to the third tier, with current owners facing calls to sell.
Administration Risk: As of early 2026, administration could not be ruled out if current owners are unwilling or unable to meet the financial shortfalls caused by potential relegation, which might force a sale.
We would have loved everything to be sorted and fixed. We stayed supportive from this website over the season. Now that we have the outcome, and the team demoted to the third tier, we do believe that more changes are required.
The voice of positivity is one we cherish and support. If the next season will be one without any proper transfers done, no investments, and just hoping free transfer signings and loan deals will take us through, we do believe the struggle to compete will be obvious.
Football is a very different world from 18 years ago. When relegated to the third tier back in 2008, Leicester sold three major assets in, Iain Hume, Richard Stearman and Gareth McAuley. Nigel Pearson was appointed manager and made three transfers involving money, none of them having major influence. Michael Morrison (Undisclosed), Nicky Adams (£100.000) and Alex Tunchev (£850.000) all played their part, but were not the most important. Matt Oakley, Andy King, Steve Howard, Matty Fryatt and Lloyd Dyer made the greatest impact. Loan signings were also helping. Goalkeeper David Martin, right back Karea Gilbert and midfielders Tom Cleverly and Mark Davies made good contribution.
To get back up and see a change of fortunes, has been happening in the past. We are all in support for that to happen again, but faith in the current group of leaders are fading. The fact that this has gone on for such a long time, makes it difficult to believe it will be sorted out, with the current structure and ownership in place.
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