The owners of Leicester City have purchased the club's current home, the King Power Stadium, for £17 million.

The purchase of the stadium by the owners, the Srivaddhanaprabha family, through their K Power Holdings Co Ltd, from its previous owners, an American pension fund manager, forms a key part of the family’s plans to safeguard the club’s long-term future.

Vice-chairman Aiyawatt Srivaddhanaprabha said: "It's always been part of our long-term vision to put the stadium back where it belongs. 

"Our plan is to bring long-term sustainable success to Leicester City Football Club. Purchasing the stadium was always a key element in this plan.

"Whilst there are no immediate plans to alter the structure or design of the stadium site, the increased flexibility through direct ownership ensures that the football club can freely adjust to the changing needs of its supporter-base for the future."

Posted on 01/03/2013