Leicester chairman effectively confirms club not for sale

Leicester City’s long, drawn out and torturous nightmare is finally over with the closure of the summer transfer window. The chaotic nature of the club’s business, or lack thereof, has led to the disconnect between the Foxes fan base and the ownership being wider than has ever been known in the 12 years since King Power took the reins.

The overwhelming blame for this disastrous non-spending spree has been laid at the door of Brendan Rodgers, but there has been a small minority of supporters putting culpability in the owners’ hands. While the manager did not explicitly do exactly so, in his press conference immediately after last night’s defeat to Manchester United, the Northern Irishman certainly implied that he’s not been able to operate at his preferred level:

"“We needed help [in the transfer market], but unfortunately haven’t been able to get that.“It’s a really challenging situation with not being able to freshen up this team.“I think it’s clear to see that [the squad is weaker than last year], and when you want to compete… the last couple of windows we’ve been unable to add to the squad.”"

This came not long after the manager addressed the lack of stability within the club due to the transfer chaos surrounding it. Later on in the press conference, the City manager continued to talk about the lack of first team reinforcements through the door this summer, but with a more sympathetic tone towards the financial situation the club is facing:

"“What’s most important is the sustainability of the club.“Of course I’d have loved to have added five or six players that adds to the quality of the group.“But if you can’t do it, I respect that.“I have to do the very best with the resources I have.”"

Rodgers also alluded to the programme notes, where Aiyawatt Srivaddhanaprabha addressed Foxes supporters in an attempt to add context to the financial situation that has led to the lack of transfer activity. The Chairman was quoted on the Leicester Mercury back in July, bemoaning a changing market as justification for no signings at the time, suggesting that judgement should be adjourned until the end of August. In last night’s message, he said:

"“Demonstrating our commitment to long-term sustainability has become a necessary priority.“Leicester City’s overall financial position is entirely secure and underpinned by my ongoing personal commitment and that of my family.“The club is as safe in our hands as it has been every day for the last 12 years.”"

Despite it being a part of the club’s business model, it had been hoped this year that the usual sale of one marquee asset per season would not happen, however Wesley Fofana’s persistence to leave the club and join Chelsea meant this was inevitable. The unfortunate timing of the deal towards the end of the window gave the Foxes very little time to reinvest, although it will have contributed positively towards financial fair play targets. On FFP, Top said:

"“Due to an increase in our net spent over recent seasons, some measures were necessary to ensure we manage our compliance with the game’s sustainability regulations.“Building the club to a level where we are less reliant on player trading takes good management, strategic, sustainable investment, success on the pitch, and time."

There had been rumours floating around social media towards the end of the window that the reason that the investment hadn’t been there was because the club was soon to be put up for sale. Those rumours were quickly refuted by creditable sources, and the commitment and desire to consistently improve and enhance the football club that Srivaddhanaprabha has shown in that public address have helped to put those whispers to bed.