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King Power: Leicester City's owners 'sued for £323m'

The owners of Leicester City Football Club are reportedly being sued for £323m over money owed to the Thai government.
A criminal court in Bangkok accepted the case against King Power International on Monday, according to Reuters news agency.
The case is also being brought against executives of state-owned Airports of Thailand (AOT), Reuters says.
The BBC has contacted Leicester City FC, King Power and AOT for comment.
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The lawsuit accuses King Power of failing to pay the Thai government 14 billion baht (£323m) from the operation of a duty-free franchise it was awarded in 2006.
At a hearing on Monday, the Central Criminal Court in Bangkok accepted the case and said it would now hear from witnesses in February next year.
The action against King Power, owned by Vichai Srivaddhanaprabha and his family, was initially filed in July.
Analysis: Professor Peter Leyland - School of African and Oriental Studies
This case almost certainly goes back to the time that the airport concessions were given out when the main international airport in Bangkok was being built.
Unravelling the complications of the contract and the concessions is likely to turn out to be a long, drawn out affair, as have been other such cases in Thailand.
There have been many cases in recent years that concern Thai billionaires and millionaires, none of whom have ended up in prison.

http://www.bbc.co.uk/news/uk-england-leicestershire-41966741

Comments

  • Yes, the politics and business world of Thailand are closely intertwined, the previous Thai owner of Man City similarly fell from grace after falling out with the government
  • edited November 14

    Yes, the politics and business world of Thailand are closely intertwined, the previous Thai owner of Man City similarly fell from grace after falling out with the government

    And we all know how much of a disaster that was for city...
  • See, this is why we should be grateful we have Roland as our owner. In years to come this is what their Leicester will be remembered for.
  • Yes. Watching premier league stars of the future is what I want, not winning the premier league. Thank you roly
  • Scoham said:

    See, this is why we should be grateful we have Roland as our owner. In years to come this is what their Leicester will be remembered for.

    But if this bankrupts the club, or if it turns out they've been stealing hundreds of millions from the Thai people, then that should be remembered too.
  • SDAddick said:

    Scoham said:

    See, this is why we should be grateful we have Roland as our owner. In years to come this is what their Leicester will be remembered for.

    But if this bankrupts the club, or if it turns out they've been stealing hundreds of millions from the Thai people, then that should be remembered too.
    Highly unlikely though.

    After all, they have been through a strenuous FA process and have been confirmed as fit and proper to own a football club.
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