Aiyawatt Srivaddhanaprabha revealed his long-standing commitment to Leicester City Football Club by cancelling the club’s enormous debt.
Aiyawatt, the Leicester chairman, yesterday announced he has cleared the £194 million (7.8 billion baht) debt the Foxes owe to its parent company King Power International (KPI).
This was accomplished through a debt-to-equity transfer to KPI, freeing Leicester from its outstanding liabilities. The club stated that this demonstrates KPI’s dedication to ensuring the club’s long-term stability, reported the BBC.
The club said in a statement…
“These loans have been provided by KPI to the club over the last four years to fund the construction of the club’s world-class new training ground at Seagrave and to continue to support the club’s investments into its squad and women’s football during the Covid-19 pandemic.
“Their conversion…
