LEICESTER CITY’S owners have green-lighted plans to sell the club, setting a Friday deadline for potential buyers to submit takeover offers.
The Foxes’ Thai owners King Power are looking to end their 16-year association with the club.
According to Sky News, investment bankers at Citi have instructed interested parties to table their bids by the end of this week.
The identity of any serious bidders remains unknown, with the deadline reportedly pushed back to allow more potential buyers to enter the race.
The Srivaddhanaprabha family first put Leicester on the market earlier this year following the club’s dramatic fall down the football pyramid.
King Power are reportedly seeking as much as £225million for the League One outfit.
A takeover at that price would smash the record for a club playing in the third tier of English football.
The Thai company bought Leicester for just £35m from Milan Mandaric back in 2010.
And six years later, the Foxes stunned the world by winning the Premier League title against extraordinary odds of 5,000-1.
Their remarkable rise also saw them reach the Champions League quarter-finals in 2017 before lifting the FA Cup for the first time in 2021.
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That period was arguably their most successful era.
However, it has all gone downhill for the Foxes since then, with the club enduring back-to-back relegations and currently sitting 17th in League One under Russell Martin.