SilverFox
Well-Known Member
http://www.supersport.com/football/...0818/Thai_duty_free_group_buys_Leicester_City?
King Power Group -- Thailand's largest duty free operator -- has purchased English Championship club Leicester City for an undisclosed amount, executives said on Wednesday.
King Power, which has monopolised duty free operations at Bangkok's Suvarnabhumi and Don Mueang Airports for decades, signed a deal to purchase 100 per cent of the club on August 12, King Power Chairman and CEO Vichai Raksriaksorn said.
"I can't disclose the amount right now," Vichai told a press conference in Bangkok, at which the purchase was officially announced.
Vichai is the second Thai tycoon to purchase an English football club.
In 2007, former Thai premier Thaksin Shinawatra bought Manchester City shortly after he was toppled by a military coup the previous year.
Thaksin, who was later forced to flee England after his visa was revoked, sold City to the Abu Dhabi United Group in 2008 at a £120-million profit.
"We are not buying Leicester to sell later," Vichai insisted. He said the purchase of the club was made to boost King Power's brand name abroad.
"After December we will change the name of the Leicester Stadium to King Power Stadium," he said.
The Thai investor said he has set aside money to buy up new players for the club, which is looking for promotion to the Premier League this season. "I have to confess that my favourite sport is actually polo," Vichai said. The Thai group's business links with the football club started three years ago with a shirt sponsorship deal.
Oh Good. We've been bought to boost a brand.
I also thought these were supposed to be football people. Sounds like they prefer Polo.
King Power Group -- Thailand's largest duty free operator -- has purchased English Championship club Leicester City for an undisclosed amount, executives said on Wednesday.
King Power, which has monopolised duty free operations at Bangkok's Suvarnabhumi and Don Mueang Airports for decades, signed a deal to purchase 100 per cent of the club on August 12, King Power Chairman and CEO Vichai Raksriaksorn said.
"I can't disclose the amount right now," Vichai told a press conference in Bangkok, at which the purchase was officially announced.
Vichai is the second Thai tycoon to purchase an English football club.
In 2007, former Thai premier Thaksin Shinawatra bought Manchester City shortly after he was toppled by a military coup the previous year.
Thaksin, who was later forced to flee England after his visa was revoked, sold City to the Abu Dhabi United Group in 2008 at a £120-million profit.
"We are not buying Leicester to sell later," Vichai insisted. He said the purchase of the club was made to boost King Power's brand name abroad.
"After December we will change the name of the Leicester Stadium to King Power Stadium," he said.
The Thai investor said he has set aside money to buy up new players for the club, which is looking for promotion to the Premier League this season. "I have to confess that my favourite sport is actually polo," Vichai said. The Thai group's business links with the football club started three years ago with a shirt sponsorship deal.
Oh Good. We've been bought to boost a brand.
I also thought these were supposed to be football people. Sounds like they prefer Polo.
