By Sean Fisher

3rd Aug, 2023 | 4:47pm

Revealed: Near-£200m Leicester City news

Leicester City’s loan with Macquarie is the last to be paid off by owner Aiyawatt Srivaddhanaprabha, Football Insider understands.

The Foxes renewed their loan with the Australian bank after filing a registration of charge via Companies House last Thursday (27 July),

The filed documents were in recognition of an existing deal secured against broadcast payments up until July 2025.

The Foxes have been in business with Macquarie for nearly five years after first striking an agreement following the sale of Riyad Mahrez to Manchester City.

It is understood that a further six agreements have been made between the two parties over the past five years, with borrowed fees secured against transfer or broadcast payments.

Srivaddhanaprabha wrote off £194million worth of debt in February by converting it to equity in a huge show of loyalty to the Midlands side.

That financial injection from the Foxes owner paid off large sums of debt owed by the club to the owners, as well as a number of loan payments.

Football Insider understands that the Macquarie loan is now the last to be paid off by Leicester City until the club can be considered debt free.

The Macquarie loan was initially taken out in August 2021 and is secured against Leicester’s Premier League TV rights and parachute payments.

The Guardian have previously reported that interest rates from Maquarie bank are estimated to be between six and seven per cent.

Leicester have provided updates on the loan agreement every six months, with a Companies House post also filed on 18 January this year.

In other news, Stephy Mavididi signs five-year Leicester City deal as medical completed