Leicester City is up for sale for more than £200 million, with Thai owners King Power prepared to part ways with the English club 16 years after acquiring it.

The Foxes have appointed investment bank Citigroup to help find a buyer for the first team, the women’s team and other key assets, including the 32,000-capacity King Power Stadium and the Seagrave training ground, which opened in 2020 and is valued at £121 million.

The sale also includes Leicester City’s sister club, OH Leuven, as part of a process dubbed “Project Lineup”, which is being managed by the US bank.

According to BBC Sport, the club’s physical assets are valued at more than £200 million, although no specific value has been assigned to either club.

The sales document describes the opportunity as “a rare opportunity to acquire a club with an excellent track record of victories and promotions to the highest levels”.

The document also highlights Leicester’s 2016 Premier League title triumph and their FA Cup victory five years ago — although it omits the fact that the club is currently playing in League One.

Leicester is expected to generate more than £97 million in revenue in the 2026 financial year, according to the presentation sent to potential investors. However, the document makes no reference to the club’s years of losses or its debts, including £100 million in bank loans.

King Power, owned by the Srivaddhanaprabha family, acquired Leicester City from Milan Mandaric for £35 million in 2010.