Latest news with #AiyawattSrivaddhanaprabha
The Sun
14 hours ago
- Sport
- The Sun
Top horse owner ‘facing complete business collapse' with duty free empire at risk of falling
A TOP horse owner is said to be facing 'total business collapse' - with his duty free empire at risk of falling completely. Sun Sport told you Leicester City chairman Aiyawatt "Top" Srivaddhanaprabha has left his role as chief executive of King Power with the company staring at "massive losses and potential failure". 2 2 Top, 39, is now "group executive chairman" with his role switching to "determining the direction and setting the policy frameworks for business operations". There are fears over what that means for 5000-1 Premier League winners Leicester City's future amid their current financial woes. The Foxes have been relegated from the Premier League and face a likely points deduction in the EFL next term. Top continues to have a large number of racehorses - including one called Straight Back Up - under the hugely successful King Power banner. With names such as Fox Vardy, Fivethousandtoone, The Foxes and Dillydingdillydong, the horses have always paid homage to the Srivaddhanaprabhas and their King Power/Leicester association. And, thanks to top class trainers such as Andrew Balding, the thoroughbreds have picked up some top prizes too. King Power Racing Co Ltd has earned more than £5million over the past five years on the Flat. Their best year was 2019 - the year after Top's father Khun Vichai and four others were killed in a helicopter crash at Leicester's stadium. The operation had earnings of £2.4m that season thanks in part to Donjuan Triumphant's Group 1 Champions Sprint Stakes win at Ascot. That was worth £330,000 and came on the back of other big-race successes including Shine So Bright's City Of York Stakes victory and Pivoine's £125,000 win in the John Smith's Cup. But the money has dried up somewhat in subsequent seasons. King Power horses THE horses owned by King Power all have Leicester themes. Here are some of the more memorable to have run over the years. Fox Vardy Dillydingdillydong Bielsa Fivethousandtoone The Foxes Fantastic Fox Fox Tal Foxes Tales Art Power Happy Power Teumessias Fox Proud To Be Fox Straight Back Up Good Luck Fox Come On Leicester Fox Shinji Earnings dropped by just shy of £350,000 from 2023 to 2024 despite the number of winners jumping from 27 to 29. And though there is much of the Flat season still to go, King Power have had a 12 per cent strike rate this year - matching their lowest ever - with 13 winners at the time of writing. That adds up to earnings of £417,109 - but with plenty still to play for over the coming months and with loads of the King Power horses having lots of entries. King Power's flagbearers now look to be Group 2 hero Bellum Justum and The Foxes, both trained by Kingsclere handler Balding. Bellum Justum landed a monster £830,000 win when he claimed the Nashville Derby in Kentucky last August. He then won the Group 2 Betfred Jockey Club Stakes at Newmarket in May this year - bringing home another £70,000. While The Foxes' Group 2 Huxley Stakes win at Chester in May was worth just shy of £75,000. The money is significant on its own but nothing compared to the situation the King Power company finds itself in. King Power had a 30-year near-monopoly on duty free concessions in Thailand. But, while aiming to renegotiate contracts at four of the country's major airports, want all rental fees to be waived. That is expected to lead to losses of £450m-plus for the state-run Airports of Thailand, which rejected the opening offer from King Power. Top's replacement Nitinai Sirismatthakarn said: "It's like a patient surviving on oxygen. "The company's intention was to ask AOT to remove the oxygen because we can't cope anymore. This was the signal we sent. "We're in a position where we're saying we can't manage, and we're asking AOT for help. "We'll listen. If the conditions allow us to remain profitable, we'll stay. If not, and we can't make it work together, we'll accept that." Commercial content notice: Taking one of the offers featured in this article may result in a payment to The Sun. You should be aware brands pay fees to appear in the highest placements on the page. 18+. T&Cs apply. Remember to gamble responsibly A responsible gambler is someone who:
The Sun
2 days ago
- Business
- The Sun
Leicester City's future shrouded in doubt with Thai owners facing total business collapse
LEICESTER'S future has been left shrouded in uncertainty as their Thai owners face a total business collapse. Foxes chairman Aiyawatt 'Top' Srivaddhanaprabha left his role as chief executive of duty free giant King Power with the company staring at massive losses and potential failure. 1 Top has switched to being 'group executive chairman' where he will 'play an important role in determining the direction and setting the policy framework for business operations'. But that adds to the club's financial woes after their relegation from the Premier League and likely points deduction in the EFL next term. Top, 39, took charge of the Foxes and the King Power company following the fatal helicopter crash that cost the lives of his father Khun Vichai - in charge of the club since 2010 - and four others as it left the stadium following a Prem draw with West Ham in 2018. He bankrolled the club's return to the Prem after their relegation in 2023 but watched as Ruud van Nistelrooy's appointment as manager to succeed Steve Cooper in December failed to arrest an instant return to the EFL. But the club's on-field issues look to be paling into insignificance by comparison with the financial woes afflicting the King Power company. King Power enjoyed a three decade near-monopoly on duty free concessions in Thailand but is aiming to completely renegotiate contracts at four of the country's major airports, asking for all rental fees to be waived. That is expected to lead to losses of £450m-plus for the state-run Airports of Thailand, which rejected the opening offer from King Power. But in a signal of the depths of the crisis, Top's replacement at the helm, Nitinai Sirismatthakarn, revealed: 'It's like a patient surviving on oxygen. 'The company's intention was to ask AOT to remove the oxygen because we can't cope anymore. This was the signal we sent.' The admissions signal the depth of the cash-flow operations that threaten both King Power's operations and its 7,000 employees. He added: 'We're in a position where we're saying we can't manage, and we're asking AOT for help. "We'll listen. If the conditions allow us to remain profitable, we'll stay. If not, and we can't make it work together, we'll accept that." It comes with Leicester still expected to part company with van Nistelrooy following their relegation and the likelihood of a points deduction after a Prem Arbitration Tribunal ruled they can be charged and punished for a PSR breach for the 2023-24 promotion campaign.
New York Times
03-06-2025
- Business
- New York Times
Leicester City Transfer DealSheet: Summer window latest, key positions and likely exits
Leicester City's hierarchy don't say a lot publicly, but sometimes silence speaks a thousand words. That is certainly the case with manager Ruud van Nistelrooy and his position at the club after relegation. The Dutchman has presented to owner Aiyawatt Srivaddhanaprabha and director of football Jon Rudkin what he thinks needs to be done to get Leicester back into the Premier League next season. Advertisement The chairman, known as Khun Top, has stated Leicester's hierarchy have begun planning has for the next campaign. The problem is, they haven't told Van Nistelrooy what that plan is. It is fair to conclude Leicester's strategy may not include Van Nistelrooy, but what the plan actually is remains to be seen. There is a lot of work to be done this summer to get Leicester back on an even keel and in some sort of shape to mount a promotion challenge. So what can we expect from Leicester this summer? Usually, it is the manager who has the final say on recruitment so, until the identity of who will be leading Leicester into the Championship is known, very little will be done on incomings. There is also a prospect of a business plan being imposed on the club by the EFL, restricting their budget and forcing them to sell assets. As things stand Van Nistelrooy is still the manager, but after the final game of the season at Bournemouth he admitted he still hadn't had a planning meeting with the club's senior management with a view to next season. Leicester could be waiting until the end of the financial year, at the end of June, to make a change so the cost of another managerial change is in the next financial year for profit and sustainability rule (PSR) purposes, but the longer the uncertainty continues, the more time is wasted. All of them. Three first-team players left at the end of their contracts — Jamie Vardy, Danny Ward and Daniel Iversen — and there will inevitably have to be sales after relegation as Leicester look to readapt to life in the Championship. Some assets will have to be sold, such as goalkeeper Mads Hermansen, and Leicester will also try to move on some of their higher earners as they try to conform to the financial restrictions and realities. Advertisement As things stand, Leicester look OK in the full-back positions and the promotion of Ben Nelson after his loan at Oxford United will give them another option at centre-back. Likewise, before sales, they look OK in defensive midfield too. Abdul Fatawu returning from injury will boost the wide options, and they have plenty of them, but goalkeeper and central striker positions are a problem. There is so much uncertainty — not just about who the manager will be, but also what restrictions they may face in the EFL, which could restrict their ability to recruit. Replacing Vardy. Even at the age of 38 he was the team's player of the season last year, as well as top scorer. He was also a hugely influential figure in the dressing room, a talisman for the other players and role model for the young professionals. His departure leaves Leicester with just one striker, Patson Daka, who may be sold this summer if they can find a buyer, so they have to try to find a solution. Likewise, the departures of Ward and Iversen leave them short of goalkeeping cover, especially as No 1 Hermansen is expected to be sold. Jakub Stolarczyk has shown he is ready to step up, but he needs cover. Not at the moment, while there is so much uncertainty surrounding the manager's position and what the budget will be. Leicester don't want to make moves for players, bring them in, and then find that the next manager — if they do sack Van Nistelrooy — doesn't want them. They made that mistake last summer when they handed Steve Cooper an £80million transfer kitty and sacked him after 12 games. Van Nistelrooy came in and only one new recruit made a consistent impact on the first team under him: Bilal El Khannouss. The inconsistency in the philosophy of the five managers that Leicester have appointed across the last three seasons has led to a scattergun transfer policy. If Van Nistelrooy stays, then Harry Winks and Jannik Vestergaard, two of the squad's higher earners, may have to move on. Neither featured in matchday squads towards the end of the season after falling out of favour. Wout Faes and Victor Kristiansen may also need to move on, and will probably want to move too. Advertisement The last time Leicester were in the Championship they tried to sell Boubakary Soumare, but had to settle for a season-long loan to Sevilla. He will likely move back to the continent, while time may also be up for Daka, who has failed to deliver consistently. There will be nine players out of contract at the end of next season: Soumare, James Justin, Winks, Daka, Luke Thomas, Ricardo Pereira, Jordan Ayew, Conor Coady and Stolarczyk. If Leicester want to cash in on them this may be the last opportunity to do so. Then there are the players they would like to keep but may have to sell for financial reasons, such as Hermansen and El Khannouss, who have both shown they can perform at Premier League level. If permanent deals for contracted players can't be done because there are clubs unwilling to pay the asking price or the player's wage demands, then loans may be the only option to reduce the wage bill. That was the case two years ago when Soumare went to Sevilla. Previous attempts to move on Vestergaard also failed. Three out-of-contract players have already left, while eight of the development squad have been released, but until the matter of who will be the manager next season is settled and the club knows its position in terms of budget and profit and sustainability rule sanctions then there is so much uncertainty. The only positive about relegation with five games still to go was that the club could have started their planning for the next season early to steal a march on many of their rivals, but they haven't taken that opportunity. Leicester certainly won't have a £107m budget this time in the Championship. The fact they had a budget that was £30m more than their rivals upset a lot of people two years ago, including in the EFL, who forecasted they would be in breach of PSR and tried to impose a business plan on the club. Leicester were able to fight off that challenge, arguing that such a sanction was premature as they were still in the process of readjusting to the Championship after having had the eighth-biggest budget in the Premier League when they were relegated. That argument will be difficult to make this time and they are also facing three charges from the Premier League for breaching PSR for their last season in the Championship in 2023-24. The timescale of the confidential process of those charges is not known, but it may not be until November that Leicester discover the outcome, and then there will be the appeal process. They could be facing a hefty points deduction but they could also be facing a business plan this time. Life in the Championship will be significantly more difficult and complicated this time around. (Top photos: Mads Hermansen, left, and Jamie Vardy; Getty Images)
Telegraph
16-05-2025
- Sport
- Telegraph
Jamie Vardy's farewell party a convenient distraction from Leicester's rudderless decline
Jamie Vardy will wave farewell to Leicester City this weekend and his departure serves as a brutal reminder of how far the club have fallen. Vardy has rescued Leicester on so many occasions and will be at it again on Sunday, saving the club from a potentially toxic atmosphere over a season he has branded a 's---show'. The final game for Leicester 's greatest-ever player, against another relegated club in Ipswich Town, promises to be an emotional and poignant afternoon. He has been present to help deliver a multitude of memories, including a Premier League title, FA Cup, magical European nights and 199 goals. If there is to be a glorious end to this fairy tale, Vardy, 38, will score his 200th goal at King Power Stadium in his 500th, and final, match for the club. There is little doubt that his goodbye comes at a very convenient time for owner Aiyawatt Srivaddhanaprabha and Jon Rudkin, the club's director of football. On Sunday the full focus will be on the club's 'GOAT' (Greatest Of All Time) – as it should be – and all the problems from a nightmarish campaign will be briefly pushed aside. Vardy's goals... #1️⃣ #5️⃣0️⃣ #1️⃣0️⃣0️⃣ #1️⃣5️⃣0️⃣ #1️⃣9️⃣9️⃣ The 🐐 — Leicester City (@LCFC) May 14, 2025 Yet as Leicester prepare for a future in the Championship without their £1 million legend, so many questions remain unanswered. Nearly four weeks after the club's relegation was confirmed, there has been no public statement on how they intend to bounce back. Ruud van Nistelrooy, the head coach, is still waiting for clarity on what his future holds. He was unable to prevent relegation and, despite encouraging signs in recent weeks, the expectation is still that he will leave. For a club whose communication from the boardroom to managers has often been poor, this is no way to treat a Premier League legend. Regardless of his record. Van Nistelrooy is in complete limbo. He presented his vision for the club's future early last month, before relegation was even confirmed. In those talks, he outlined how he envisaged reshaping the squad with a list of potential signings. He also highlighted the strength of the club's academy, and how talented teenagers such as Jeremy Monga and Jake Evans will be key players in the future. Since that day, there has been silence. Van Nistelrooy has no idea whether he will remain in charge for next season. With so much uncertainty, the club are drifting. Worryingly for Van Nistelrooy, players available on free transfers are already slipping through his fingers. He said on Friday: 'There is no news on this [my future] to bring and when there is, I will let you know. I said five or six weeks ago that it needed to be the sooner the better. 'It's visible in performance and points, and goals scored and conceded, that we have improved. We can't take away the disappointment of relegation but I'm happy with how the players have been performing. We want to finish the season as well as we can.' This weekend, many players and staff members from the memorable Premier League title-winning season of 2015-16 will be present. Danny Drinkwater, Shinji Okazaki and Matty James are confirmed attendees, while Nigel Pearson – the manager who signed Vardy from Fleetwood in May 2012 – is also expected to be there. Many of them will be pained by what has unfolded over the past few years: two relegations in three seasons, declining standards and a poor culture in place of one that was once a huge source of pride. Fans are demanding change but not expecting it. The threat of apathy replacing anger should be a serious concern for Leicester's board. Externally, there will be tired accusations of entitlement and that Leicester's relegation is the cycle of football. Those accusations completely miss the point. Leicester had a shot at glory and then squandered it. Ahead of this weekend, fans' group Union FS issued a statement claiming that plans for a Tifo dedicated to Vardy had been blocked by the club. Leicester are rumoured to be honouring Vardy by using an external agency. 'Tifo by fans, not hired hands' was the title of the Union FS statement. Ipswich (H) — Union FS (@UFS2013) May 13, 2025 What is next for Vardy? He will fly out for a family holiday early next week and has been excused from Leicester's final game at Bournemouth. The difference between finishing 18th and 19th is worth almost £3 million, with Ipswich facing West Ham at home on the last day. Leicester will go above Ipswich this weekend with a win. Yet Van Nistelrooy will go into the Bournemouth match without his leading scorer, as Leicester and Ipswich fight for the dubious honour of finishing third from bottom. Vardy was always going to bid farewell on his own terms. But his absence next weekend still feels rather odd. Next season he will be watching from afar, perhaps in the Premier League, and the big question is what happens next for the club he taught to dream.
New York Times
08-05-2025
- Business
- New York Times
Leicester City squad audit: Who should stay and who should go?
Ruud van Nistelrooy says he knows what is required to get Leicester City back in shape for their second Championship promotion challenge in three years. The club's owner and chairman, Aiyawatt Srivaddhanaprabha, says that planning has already begun, but we are yet to find out whether Van Nistelrooy will still be at the helm. Clarity is crucial. There is much work to be done to ensure Leicester's battered and beleaguered squad is ready after a humbling relegation from the Premier League. Players will have to be moved on and the budget slashed, but that may not be so easy. Only three players are out of contract this summer but nine are set to enter their final year of their deals. Leicester continue to try to conform to the Premier League's profit and sustainability rules (PSR). So far, they avoided a charge through the courts over the issue of jurisdiction (which league can charge them and when, under the actual legal wording of the regulations) but the Premier League and the English Football League (EFL, which governs the Championship) have been working to tighten those regulations. They had a budget of £107million ($142m at current rates) two years ago — £30m more than their rivals — but this time, they will probably be placed under an EFL business plan, which will restrict their budget and force them to sell. But it may not be easy to move on high earners who are unwilling to accept lower wages at other clubs, or even find buyers. Van Nistelrooy will look to young players already at the club, such as Will Alves (20) and Ben Nelson (21), but player sales will be a big part of the plan for this summer. Here, The Athletic audits the Leicester squad to determine where the cuts could come. Goalkeepers Mads Hermansen (contract expires June 2028) — Sell The 24-year-old is arguably Leicester's biggest asset and his sale seems inevitable. Leicester may have kept just two clean sheets and conceded 76 goals in 35 league games this season, but Hermansen has shown he should be playing at the highest level. Jakub Stolarczyk (June 2026) — Keep When called up, the former Poland Under-21 international has stepped in superbly for Hermansen and looks certain to start next season as Leicester's No 1, but they will have to bring in other 'keepers to give Stolarczyk, also 24, competition. Daniel Iversen (June 2025) — Release The big Dane has shown he is a competent goalkeeper, especially when out on loan. He is a strong shot stopper but he has looked uncomfortable with the ball at his feet, so has been surplus to requirements. He is tipped for a return to Preston North End, where he did superbly well on loan in the 2021-22 season. Danny Ward (June 2025) — Release Ward has had a frustrating seven years with Leicester after signing from Liverpool for £10m in 2018 and had to wait four years to make his Premier League debut. When he got his chance to step out of Kasper Schmeichel's shadow, it did not go well during the relegation season and he has made just 29 top-flight appearances. Full-backs Ricardo Pereira (June 2026) — Keep When fully fit, Pereira is one of the best players in the squad, but his injuries have made him hard to rely on. He played an important role in the Championship title season and could do again, if he can stay fit. James Justin (June 2026) — Keep Not his best season. Justin has been targeted for criticism by a section of the fans, but he has continually been left exposed. Like Pereira, Justin has suffered from injuries during his Leicester career but he has started 31 league games this season. His versatility would be an asset next season. Woyo Coulibaly (June 2029) — Sell The only player signed in January, but he has started just one game and was dragged off at half-time. It is difficult to assess the Frenchman on such limited pitch time, but Leicester can't afford to carry anyone next season. Victor Kristiansen (June 2028) — Sell The Denmark international's only experience of the Premier League has been relegation. It may be time for all concerned to have a fresh start. Luke Thomas (June 2026) — Keep The academy graduate has come into the side in the latter stages of this season and shown that he does have a future at Leicester. The 23-year-old has played as a left central defender and left-back, and can defend the back post, which has been an area of weakness this season. With one year left on his contract, he is worth a new deal. Central defenders Wout Faes (June 2027) — Sell Like Kristiansen, Faes' time in the Premier League has been nothing but a struggle. He needed convincing to drop into the Championship last time and he will probably be even more reluctant now. As a Belgium international, he will have suitors but Leicester may have to accept a below-valuation offer to sell him. Conor Coady (June 2026) — Keep Leicester have a big decision to make. Injuries in both preseasons since Coady joined the club in 2023 have hampered his impact, but with Jamie Vardy leaving, Leicester will need leadership to guide so many young players. Coady, 32, is another higher earner but has just one year left on his contract. Jannik Vestergaard (June 2027) — Sell If any player has summed up the problems at the club over the last few years, then it is Vestergaard. Wanted and then unwanted by Brendan Rodgers, he was one of the players of the season in the Championship under Enzo Maresca but both Steve Cooper and Van Nistelrooy have used him sparingly and he hasn't been in the last eight matchday squads. A fresh start is best for all concerned. Caleb Okoli (June 2029) — Keep The 23-year-old is another one of the summer signings who have hardly featured this season — another indication of the muddled recruitment thinking. He has started just 12 league games and relegation may convince him to look elsewhere for regular first-team football, but he could be a useful player to have around in the Championship. Harry Souttar (June 2028) — Sell Not a lot has gone right for Souttar after joining Leicester in January 2023 and even his latest loan spell at Sheffield United ended with a ruptured Achilles. It is hard to imagine he will get the chance to resurrect his Leicester career this summer. Midfielders Hamza Choudhury (June 2027) — Keep Went out on loan to gain some much-needed game time last season but the Bangladesh international could have a role to play next season. Another academy graduate who always seemed to care about playing for Leicester when given the chance. The 27-year-old's fully committed style and energy may be just what Van Nistelrooy is looking for. Wilfred Ndidi (June 2027) — Keep Leicester made a big financial commitment to re-sign Ndidi last summer and on his day, he is an outstanding defensive midfielder, but he has struggled to find his best form for the last three years. He could be an asset but he could also be a key player next season. Oliver Skipp (June 2029) — Keep Skipp's move from Tottenham Hotspur, in a move worth more than £20m, has been held up as an example of Leicester's failed transfer policy. The 24-year-old did not make anywhere near the impact such a large investment would warrant, but he has hardly been given a run of games either. At his age and with a full pre-season, he could yet show his worth. Boubakary Soumare (June 2026) — Sell In contrast, Soumare certainly has been granted plenty of opportunities. The Frenchman has all the physical attributes required to succeed and showed his potential in spells but inconsistency has blighted his Leicester career. It appears to be a mental issue. He wanted it to work at Leicester, but it simply hasn't. Harry Winks (June 2026) — Sell Leicester spent big to recruit Winks when they dropped into the Championship last time and he was the best midfielder in the division, perfect for Maresca's possession-based style of play. But in the Premier League, where Leicester had less possession and needed to be more resilient defensively, he struggled. He has also fallen out of favour with Van Nistelrooy for refusing to stay over at the training ground between close training sessions because he wants to be closer to his partner and newborn child. If Van Nistelrooy stays, Winks, 29, may have to go. Forwards Jordan Ayew (June 2026) — Sell Cooper wanted to add some experience to his squad but when he signed Ayew from Crystal Palace, it was an uninspiring move for many Leicester fans. If Van Nistelrooy wants to move forward with a more energetic, high-pressing style of play, then the 33-year-old would be an expensive back-up player next season. Bobby De Cordova-Reid (June 2027) — Sell De Cordova-Reid was signed for similar reasons as Ayew but, at 32, his best days have passed. He made nine starts in the league and contributed one goal and three assists. With two years still to run on his contract, moving him on will be difficult. Bilal El Khannouss (June 2028) — Sell Everyone associated with Leicester would love to see the Morocco international stay but, in reality, it is unlikely. EL Khannouss has been the only signing of the season to improve the starting lineup and he is one of the club's biggest assets, along with Hermansen. He has shown he can perform in a top European division and will want to stay at this level. There will be no shortage of interest. Abdul Fatawu (June 2029) — Keep In a season of disappointments, the fact Fatawu didn't get the chance to show what he could do in the Premier League with a decent run of games because of a season-ending anterior cruciate ligament injury is one of the biggest, but that may mean Leicester will benefit from his return next season in the Championship. Michael Golding (June 2028) — Keep Golding joined from Chelsea for £5m last summer with a view to the attacking midfielder being part of Leicester's future, rather than the immediate campaign. A succession of injuries hampered his progress and the 18-year-old had to wait until the home game against Southampton last weekend for his first-team debut. He will be given a chance to impress during pre-season. Kasey McAteer (June 2028) — Keep The academy graduate has proven, at Championship level, that he can be effective and bring something a little different to the attack. The 23-year-old can operate on both flanks, likes to play on the inside, and has an eye for goal. Stephy Mavididi (June 2028) — Keep After a frustrating season, Mavididi was starting to show what he could do in the Premier League before an injury ended his season prematurely. In tandem with Fatawu, Mavididi, who turns 27 in May, tore up the Championship two years ago and will be an important figure again this time. Strikers Jamie Vardy (June 2025) — Departing After 13 sensational years, 498 appearances and 199 goals, Vardy is leaving as the greatest piece of transfer business the club has ever done. He is irreplaceable, but Leicester have to find someone to step up next season. Patson Daka (June 2026) — Sell Moscow, October 2021. That was the night that Daka announced himself as Leicester's next big hit of a signing, scoring all four goals in a 4-3 win in the Europa League. He then became Leicester's all-time top scorer in European competition. He has not hit those heights since and is unlikely to be Leicester's future No 9. (Top photos of Jannik Vestergaard and Kasey McAteer: Getty Images)
