Leicester City Football Club were on the brink of returning to the apex of the sport a few years ago: the Champions League. Investment was pretty much in place to do so; the Foxes believed they had the correct manager to lead them back to the European pinnacle. Unfortunately, the aspirational push for top four Premier League placement and consequently UCL qualification didn't materialise that year. Leicester's trips to Europe rapidly evaporated; top-flight progress and stability subsequently suffered drastically. The rest, dropping down to the Championship etcetera, is now history.
Many people - players, staff and members of the hierarchy - are to blame. Yet there is one factor that you'll hear plugged-in, well-informed supporters mention regularly: money. So, why did LCFC chairman Aiyawatt 'Top' Srivaddhanaprabha stop funding the club adequately? And, most importantly, is late beloved former owner Vichai Srivaddhanaprabha's amazing dream still alive? A new but rather brief one-question interview with a Leicester-specific journalist possibly reveals an answer to the matter at hand.
Leicester City's luck
You could say that Leicester have been a bit unlucky over the years. Certain instances stand out. Being relegated by a couple of points to an undeserving Everton in 2022/23 is one example in modern times. Their current front-of-shirt sponsor BC.Game now being declared bankrupt only approximately a third into the season is a typically LCFC event to occur. Believe me!
Obviously the east Midlands team could arguably be labelled one of the luckiest sides in the world in the contemporary era as well. The 2015/16 EPL triumph was a once in a lifetime, unfathomable achievement. Fortune was involved, of course. Yet the meticulous planning and sourcing of inexpensive gems to polish - such as Jamie Vardy, Riyad Mahrez and N'golo Kante - was ingenious and as innovative as it gets in the game.
Architects of their own design, eventual downfall and re-emergence
Most people put the ascendancy and ultimate primacy of that period down to one great man, his vision and club appointments: The Boss, Vichai Srivaddhanaprabha. After his tragic death in 2018, son Top took over, with the Blue Army's blessing.
There's no doubt Top wished for the same success. He did appear to sufficiently underwrite the aim of lofty finishes and re-entering Europe. And the plan came to fruition, for a spell. Until it didn't.
Sadly, it seems City must potentially repeat the impossible for Top to then reinvest at the same upper level. An eventuality which feels inconceivable; without guaranteed funds, LCFC may sit insignificant. We must also understand that King Power don't possess infinite cash either:
"Nick [Leicester fan] asked: Any idea why our finances suddenly plummeted? We were pushing top four, but then we couldn't compete financially. Does Top have the backing to continue his father's dream?BBC Sport writer, Owynn Palmer-Atkin
Owynn answered: After Leicester City won the FA Cup in 2021, the club continued to invest heavily to back the then manager Brendan Rodgers. In fact, that summer they hit their biggest ever net spend to bring Patson Daka, Boubakary Soumare, Jannik Vestergaard and Ademola Lookman to the club.
That was all done with the intention of helping the side gain that extra couple of percent needed to get over the top four barrier and qualify for the Champions League again.
As we know, that didn't happen. Leicester finished fifth and got to the semi-finals of the Conference League.
The club then couldn't continue that level of spending without the guarantee of Champions League cash, which props up a lot of the transfer business top sides do, so they decided to revert back to the old system that served them so well before.
Sell a key player and reinvest in the squad.
Ultimately, they sold Wesley Fofana in the summer of 2022 and were relegated."