adminLeicester City’s recent slide from the Premier League into League One has been widely reported, as has the club’s financial predicament.
The Foxes, of course, delivered one of modern football’s most remarkable stories just a decade ago by clinching the Premier League title at extraordinary 5000-1 odds, but they now find themselves in England’s third tier for only the second time in their history since being founded in 1884.
It has not been an easy adjustment for the club following their second consecutive relegation from the Championship last season, which was partly attributed to a six-point deduction after they were found guilty of violating the EFL’s PSR regulations.
After seven league fixtures, Leicester currently sit 14th in the standings, having secured just two victories, with pressure already beginning to build on Russell Martin.
It also remains uncertain whether City’s current owners, King Power, will remain in the East Midlands for much longer, with Aiyawatt Srivaddhanaprabha also facing mounting pressure to hand his current position over to a new chairman.
One of the most prominent names connected with a possible takeover is Saudi Arabian boxing mogul Turki Alalshikh, but what is the latest development on this matter?
Turki Alalshikh was approached over potential Leicester City takeover in September
Indeed, talkSPORT reported in September that the tycoon had been approached regarding a possible takeover, with it initially being stated that those interested in investing in the Foxes had until Monday, September 14th to register their intentions with King Power.
Alalshikh has attracted considerable attention over the past year due to his reported interest in clubs including Bristol City, Southampton and Derby County, before withdrawing from a proposed deal at Pride Park in July, despite it having been approved by the EFL and the Independent Football Regulator.
It has been reported that the Leicester hierarchy were seeking as much as £222m in a new takeover arrangement, having teamed up with American investment firm Citigroup to produce an eight-page dossier containing important information about the club’s history, current circumstances and major assets for potential investors.
However, discussions surrounding a takeover have cooled in recent weeks following confirmation that King Power had transformed £8.5m of debt into equity.
Turki Alalshikh provides worrying health update amid Leicester City takeover links
Alalshikh is reportedly worth around £2.08bn, so it is understandable that some Leicester supporters are excited by the aforementioned takeover links, while others have adopted a more cautious stance given his previous dealings.
However, it is possible that the boxing tycoon could miss out on a takeover of the club due to unfortunate circumstances, after revealing during a press conference ahead of the upcoming Tyson Fury versus Anthony Joshua fight in Cardiff:
“I don’t know if in a couple of years I will remember this moment,” Alalshikh claimed.
“My health in the last four months is not good. I come here only for the fighters.”
Leicester City supporters will hope takeover saga is settled soon
The atmosphere among Leicester’s fanbase is hardly positive at present, and that could change if the takeover saga at the King Power Stadium is concluded sooner rather than later.
For now, though, there appear to be more uncertainties than clear answers, adding to the sense of instability surrounding the club both on and off the pitch.
As noted previously, Alalshikh’s comments about his personal wellbeing could alter the situation surrounding any negotiations, should they move forward over the coming weeks and months.
However, Martin and his squad have no influence over those matters and will instead be focused on improving results, beginning with a home fixture against Peterborough United on October 10th.
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