King Power: A Tale of Rise and Ruin

[splinterdream]

28 minutes ago, kenny said:

The players have looked unfit for years. We used to be the fittest in the league to the point of doping accusations from other clubs.

 

We looked tired all the time which is down to the mentality and lack of professionalism within the club. If we aren't fit then the players will pick up more injuries at non training times.

getting fitness right is tremendously difficult. It's said that Rennie was sacked because he was complaining Rodgers was over training the players warning of injuries, but then 22/23 season the players looked incredibly unfit, Tielemens was very overweight. Then there's style of play that can have a big impact, I'd bet enzo ball requiring fewer runs, then when we're defending in PL, we need that fitness, probabaly small fractions but it makes a difference and probably why sticking to a style is important 

[Sly]

I’m really surprised they haven’t sold Belvoir Drive yet. 

[Tommy G]

1 hour ago, Sly said:

 

 

Whilst companies house stated Top is the person with significantly control, the accounts that were signed off in December 2024 basically state otherwise.

 

We rely on investment from KPI (King Power International), player trading and bank loans. 
 

King Power own the stadium, Leicester currently don’t. It’s on hire purchase from King Power to Leicester.

 

They’ve got a stock allotment ready to go for just over £100m in theory, which generates additional revenue. That could wipe off the bank loans to make us more saleable, or potentially be used to get additional investment.

 

It is all very murky, as business is. However the long and short of it is, if King Power goes down, it’s going to have a directly impact on us. 
 

Worst case scenario, they asset strip us and basically sell everything off to fund King Power, as that’s the main business. We are basically a vanity project, that reading between the lines, isn’t appreciated that much throughout King Power. 

As someone who signs off accounts it doesn’t matter what it states at the last balance sheet date.

 

its clear his money and personal wealth is from the KP empire, there’s not disputing that - he still owns the football club 

Edited 24 June 2025 by Tommy G

[Sly]

4 minutes ago, Tommy G said:

As someone who signs off accounts it doesn’t matter what it states at the last balance sheet date.

 

its clear his money and personal wealth is from the KP empire, there’s not disputing that - he still owns the football club 

His wealth is linked to King Power though.

 

Without them funding us, we are screwed if we aspire to be a consistent Premier League team. 
 

We don’t have the pull as our commercial offering is terrible. 

[Tommy G]

2 minutes ago, Sly said:

His wealth is linked to King Power though.

 

Without them funding us, we are screwed if we aspire to be a consistent Premier League team. 
 

We don’t have the pull as our commercial offering is terrible. 

Not disputing that!

[Sly]

I think, if they know they’d get away with it, we’d have been re-branded the King Power Foxes or something daft like that, rather than Leicester City. 

[Sly]

Just now, Tommy G said:

Not disputing that!

It’s just a bizarre situation we’re in really,

 

King Power also keep trying to pin the downturn of the travelling trade into Thailand as a factor.

 

If  you look at passenger numbers through the airports, they are now higher than pre COVID. 
 

Maybe, people don’t want to buy King Powers tat! 

[Tommy G]

Just now, Sly said:

It’s just a bizarre situation we’re in really,

 

King Power also keep trying to pin the downturn of the travelling trade into Thailand as a factor.

 

If  you look at passenger numbers through the airports, they are now higher than pre COVID. 
 

Maybe, people don’t want to buy King Powers tat! 

I’d imagine duty free sales are struggling world wide, not many people drink and smoke under 35/40 these days - or have as much disposable income to waste at airport duty free. 
 

They cant come out and say their business model is fvcked though.

[Sly]

2 minutes ago, Tommy G said:

I’d imagine duty free sales are struggling world wide, not many people drink and smoke under 35/40 these days - or have as much disposable income to waste at airport duty free. 
 

They cant come out and say their business model is fvcked though.

Great point actually. Duty free as we knew it 20 years ago, doesn’t really exist.

 

King Power is diversified, however I’m not sure it’s a return on investment like the monopoly they had in the airports. 

[MattFox]

19 minutes ago, Sly said:

It’s just a bizarre situation we’re in really,

 

King Power also keep trying to pin the downturn of the travelling trade into Thailand as a factor.

 

If  you look at passenger numbers through the airports, they are now higher than pre COVID. 
 

Maybe, people don’t want to buy King Powers tat! 

Their offering has always been piss poor compared to other airports in the region 

[Sly]

Just now, MattFox said:

Their offering has always been piss poor compared to other airports in the region 

I think someone made the point earlier in this topic.

 

If you’re the Thailand Airport boss, you’re maybe looking over the fence at the likes of Malaysia etc and seeing what they achieve, compared to Thailand. 
 

You’d then be asking why.

[urban fox]

One thing to consider. The former boss of the airports has taken up the role having waited two years due to contract clauses preventing him from working in the private sector after quitting the AOT.

He is not stupid, if he really thought King power was truly screwed would he have taken the job? 

He would know the existing contracts inside out, so will also know the true worthto AOT, should KP pull out of theses locations. I think it will get sorted.

[HankMarvin]

28 minutes ago, urban fox said:

He is not stupid, if he really thought King power was truly screwed would he have taken the job

If they through a shit load of money at him then yes.

He has probably earned an astronomical increase in salary 

[CosbehFox]

3 hours ago, Sly said:

I’m really surprised they haven’t sold Belvoir Drive yet. 

Because as mentioned repeatedly it’s got complicated covenants on it as well as some land belonging to the YMCA 

[Jon the Hat]

16 hours ago, 5waller5 said:

Indeed, and that’s exactly what’s led to all the news stories - They’ve fallen behind on the rent and now seek to renegotiate it. 
 

Literally my point - the post listed all these little actions a "good CEO would take", while completely ignoring the really significant one they are actually taking.  Yes its a bit of a nuclear option, but if your "rent" is actually a % of turnover, you need to remain at a certain level of turnover to maintain your footprint, and if the AOT are not delivering the footfall (it is not the responsibility of the duty free operator to deliver the tourists is it?) then the AOT should absolutely share the pain.

[Chrysalis]

18 hours ago, funkyrobot said:

Absolutely not. Why would you want to give Notts Forest a facility like that? That would make me 🤮

Lets face it, its bragging rights, the facility hasnt really offered us anything practical as a football club. 

[Superpants82]

The Thai story was rehashed in few places yesterday, he's gonna throw his dummy 

[HarryDee8]

https://www.thesun.co.uk/sport/35531625/leicester-city-king-power-financial-thailand/

 

They potentially have to sell up now. It will be hard for them to fund things.

 

Unless this becomes their sole business! Lol

[funkyrobot]

13 hours ago, kenny said:

The players have looked unfit for years. We used to be the fittest in the league to the point of doping accusations from other clubs.

 

We looked tired all the time which is down to the mentality and lack of professionalism within the club. If we aren't fit then the players will pick up more injuries at non training times.

Seagrave is state of the art, it has all the facilities to maximise the fitness of a player. If fitness is an issue then that’s down to player training and conditioning and is a management issue. Not sure there’s actual any evidence that shows LCFC players are not as fit as opponents. Players can be perfectly fit but demotivated by their own circumstances, their leader and the form of the team. 

[SemperEadem]

10 minutes ago, Superpants82 said:

The Thai story was rehashed in few places yesterday, he's gonna throw his dummy 

Might probe some comms from Herilhy this.

[brookfox]

12 hours ago, Sly said:

I’m really surprised they haven’t sold Belvoir Drive yet. 

Yeah, to the women’s team for £200m!

[Sly]

This is a bit of a PR disaster for them in all honesty.

 

Doesn’t the culture basically demand respect etc? 
 

They’ll be getting renamed back to Raksriaksorn! 

[SK3Blue]

13 hours ago, Sly said:

I’m really surprised they haven’t sold Belvoir Drive yet. 

Think there are restrictive covenants in place so it’s proving difficult to shift. 
 

 

[AjcW]

1 hour ago, SemperEadem said:

Might probe some comms from Herilhy this.

 

 

 

....  

[urban fox]

8 hours ago, Jon the Hat said:

Literally my point - the post listed all these little actions a "good CEO would take", while completely ignoring the really significant one they are actually taking.  Yes its a bit of a nuclear option, but if your "rent" is actually a % of turnover, you need to remain at a certain level of turnover to maintain your footprint, and if the AOT are not delivering the footfall (it is not the responsibility of the duty free operator to deliver the tourists is it?) then the AOT should absolutely share the pain.

I think that's where the problem lies. The rent is not a %, it's  fixed guaranteed minimum payment which the footfall is not supporting. If it was % based, they would not be in such trouble as they would be paying less. I would not be surprised if they are trying to change the terms to %, that way, even if footfall, and hence turnover drops, they maintain a margin

Edited 25 June 2025 by urban fox