Leicester chairman relieves club of outstanding debts owed to parent company

DEBT CLEARED: Leicester’s owners have relieved the club of the debts owed to parent company King Power International. Pic: Tim Goode/PA

Leicester have announced chairman Aiyawatt Srivaddhanaprabha has relieved the club of the outstanding £194million debt which was owed to parent company King Power International.

The Premier League club said over £194m in loans and related interest had been capitalised into equity issued to KPI, which is wholly owned by the Srivaddhanaprabha family.