By Dr Dan Plumley

9th Feb, 2023 | 9:28am

Expert issues ‘absolutely brilliant’ Leicester City claim amid £200m twist

Leicester City are in a “privileged” position with their owners after they paid off £194million of debt at the club.

That is the opinion of finance expert Dr Dan Plumley, who spoke exclusively to Football Insider about the very generous payout at the King Power Stadium.

Leicester City amassed a large amount of debt over the last decade, with the Srivaddhanaprabha loaning the club money to help with day-to-day operations, signings and construction of facilities.

The Foxes have enjoyed plenty of success under the Srivaddhanaprabha family, winning both the Premier League and FA Cup under their ownership.

Last Wednesday (1 February), the owners wrote off £194million of debt at Leicester and added that they “don’t expect” the club to ever pay them back for it.

The club is now debt-free, even after constructing new £100million training facilities in 2021.

Plumley hailed the “absolutely brilliant” act and insists that the Foxes are lucky to have such committed owners in the long term.

“It’s absolutely brilliant for Leicester City that they have owners that are willing to do that,” Plumley told Football Insider.

“It’s a very privileged ownership position that not every club is fortunate enough to have.

“It’s a substantial amount of money that spreads a very important message from the owners that they are invested in the long-term success of Leicester City.

“The club’s balance sheets are suddenly looking much healthier overnight with £194million of debt cleared completely.

“It highlights the commitment from the owners to bring long-term stability and success to Leicester.

“Plus, it helps their FFP position with debts being cleared.”

In other news, pundit on Leicester City star James Maddison joining Man City amid ‘big’ claim