A few years ago, Leicester City appeared poised to return to the pinnacle of European football, with Champions League qualification within their grasp. The club had invested heavily and had a manager who seemed capable of leading them there. However, despite their aspirations for a top-four Premier League finish, Leicester fell short, and their hopes of European football quickly faded. This failure to secure Champions League football had a profound impact, leading to a sharp decline in the club’s form and stability, which eventually saw them relegated from the Premier League. While various factors and individuals, including players, management, and ownership, share responsibility, one crucial issue frequently cited by informed supporters is the lack of consistent financial backing.
The key figure in this financial shift is Leicester’s chairman, Aiyawatt ‘Top’ Srivaddhanaprabha. Why did he stop investing as heavily in the club? And does the dream his late father, Vichai Srivaddhanaprabha, had for Leicester to become a regular force in European football still live on? A recent interview with a Leicester-specific journalist offers some insight into these questions.
Leicester’s rise to prominence has been a mix of both luck and savvy strategy. The club’s 2015/16 Premier League title remains one of the most extraordinary stories in football, but it was no fluke. The team’s success was built on intelligent recruitment, finding hidden gems like Jamie Vardy, Riyad Mahrez, and N’Golo Kanté. This period of brilliance was driven by the leadership and vision of Vichai Srivaddhanaprabha, whose tragic death in 2018 left his son Top to carry on the family legacy. Under Top’s leadership, the club seemed determined to continue striving for European success, with the fans’ full support.
However, after winning the FA Cup in 2021, Leicester’s ambitions for a top-four finish and a return to the Champions League were dashed. Despite making their biggest-ever net spend that summer, bringing in players such as Patson Daka, Boubakary Soumaré, Jannik Vestergaard, and Ademola Lookman, the desired results did not follow. Leicester finished fifth once again and could only reach the semi-finals of the Conference League, falling short of their European dreams. Without the financial lifeline of Champions League revenue, the club was unable to continue spending at the same level. The strategy then shifted: Leicester began selling key players, like Wesley Fofana, to reinvest the funds into the squad. However, this did not prevent their eventual relegation in 2023, marking a painful chapter in the club’s recent history.
The question remains: Was Top’s vision truly aligned with that of his father, or did the financial constraints ultimately prove too great for Leicester to maintain their ambitions of competing at the highest level?
