Leicester City are at a crossroads after their latest setback, a relegation to the third tier of English football.
The future of the club is now uncertain, with a sale being discussed, according to The Athletic.
These rumours have been addressed by club chairman Aiyawatt "Top" Srivaddhanaprabha, who has reiterated his commitment to the club's stability while a sale is being explored.
Investment bank Citigroup has circulated a sales document codenamed "Project Lineup" to prospective buyers.
Any deal will have to be within the strict operational guidelines of the EFL's financial sustainability regulations to avoid further sanctions.
Why Leicester City Are Being Valued at £222m
A sales dossier titled "Project Lineup" circulated by Citigroup has provided important clarity with regard to the future of Leicester City.
The Srivaddhanaprabha family, owners of the club since 2010, are prepared to sell for £222 million, pointing to the club and its wider asset portfolio.
Industry sources have stated that such a fee is unprecedented for a League One side and value the club at £148 million, nearly £100 million less.
The package includes Leicester City and their women's team, as well as their Category One academy which participates in the Premier League 2.
The club's property portfolio is also included, and it involves King Power Stadium and land owned by the club around the stadium, as well as training bases Seagrave and Belvoir Drive.
King Power's £204m Property Portfolio Underpins Leicester Valuation
Leicester City have lost a combined amount in excess of £270 million in the last four accounting years, but their valuable physical infrastructure is key to the internal valuation by their owners.
The club's Seagrave training ground is a world-class facility which houses their men's professional and academy football operation. The 180-acre site is valued at £121 million.
Their home ground, the King Power Stadium, is valued at £74 million, as well.
The Belvoir Drive training ground, home of their women's team, is valued at £9 million, as well, bringing the total property valuation to £204 million.
The Foxes also pride themselves in being the most successful club in EFL history, judging by their exploits in the lower divisions and Premier League.
King Power has presented these points, as well as their vibrant fan base, as justification of their £222 million valuation.
Could A Leicester City Sale Give The Club A Fresh Start?
The Srivaddhanaprabha family have been brilliant owners of Leicester City since 2010, but it is time for a change.
Things have not been the same at the club since the unfortunate death of family patron Vichai Srivaddhanaprabha eight years ago, even if the club tasted significant success on the pitch.
Problems off the pitch have beset the club, with a six-point deduction for PSR violation costing them greatly last season.
The hierarchy has come in for significant criticism in recent times and a peaceful separation seems to be the best solution for all involved.
With Russell Martin leading the team on the pitch and a team devoid of big names, a year in League One will afford them a fresh start, and one is needed in the hierarchy, as well.
