Neil Lal has confirmed that he has written to Leicester City's owners to request access to the club's financial information as he explores a potential takeover of the former Premier League champions.

The Scottish-Indian businessman is assembling a consortium for a possible bid, with the club's current owners, King Power, looking to sell after 16 years in charge. Lal told SunSport that his group wants to review Leicester's finances before deciding whether to proceed with a formal offer.

Why Neil Lal Believes Leicester City Can Return to the Premier League

Lal told SunSport that he sees Leicester as a club with the profile and infrastructure to recover from its recent decline.

"Leicester City FC is a great football club with wonderful fans.

"If things go well and both sides are happy, then we plan to build the club and put it right back in the top tier of football."

The Foxes won the Premier League in 2016, reached the Champions League quarter-finals the following season, and lifted the FA Cup in 2021. Since then, successive relegations have left the club in League One.

Despite that fall, Leicester still has a large supporter base, a modern stadium, and a training facility that could help attract long-term investment. Lal believes those foundations make the club a potential route back to English football’s top division.

The potential investment opportunity extends beyond the men's first team. Leicester also has a women's side, an academy, and links to Belgian club OH Leuven, offering prospective investors a wider football operation to develop.

Neil Lal Requests Leicester City's Financial Details

Lal, chairman and president of The Indian Council of the United Kingdom, said his group had contacted the Foxes to obtain information about the club’s finances.

That information would allow the proposed consortium to examine Leicester's income, debts, operating costs and other commitments before deciding whether to proceed.

"We are looking at the Leicester situation and have written to the club for information with regards to the financials," Lal said.

"India is a country of 1.4 billion people, we look to build bridges with different revenue streams from merchandising and streaming, which will not only increase revenue but will build bridges with new fan base on a global platform.

"These synergies are what is needed. We are also looking for a football venture in Scotland. There shouldn’t be any changes, for example with the strip or the colours.

"In my opinion, the best thing would be to take stock of the situation and invest in the club for better players and also to increase revenue. I touched on Asia, such as India, regarding merchandising and streaming, as well as increasing the fanbase; I think that’s the best way forward."

The enquiry does not represent a completed bid or takeover agreement. It is an early step in a process that would require further discussions, financial due diligence and approval from the relevant football authorities.

Lal is reported to have a personal net worth of about £2 million and is therefore assembling a consortium to support the proposed takeover. Details of the other investors have not been confirmed.

What King Power's Proposed Sale Means for Leicester City's Future

King Power is reportedly seeking more than £200 million for Leicester City and its wider football assets. Reuters reporting said the Thai ownership group is seeking a buyer after 16 years in charge. Investment bank Citigroup has been involved in the sale process.

Leicester's men's and women's teams, academy, King Power Stadium, Seagrave training ground and Belgian sister club OH Leuven are part of the wider portfolio. Reports have valued that portfolio at around £222 million.

However, the final sale price could be closer to £148 million given Leicester's League One status and financial position. The next step depends on whether Lal's consortium receives the requested financial information and decides to submit a formal offer.

King Power would then assess the proposal before deciding whether to enter negotiations. Until then, Leicester City remains under King Power's ownership. Lal's interest has introduced another potential buyer, but the club's long-term future has yet to be decided.