Leicester dream of Euro return after record profits
LONDON: Leicester’s Thai owners have their sights set on a return to European action after their club announced record profits.
Leicester recorded profits of £80 million (RM434 million) after tax for the financial year ending May 31, 2017 thanks to their qualification for the lucrative Champions League.
The Foxes made it into Europe’s elite club competition for the first time in their history by winning the Premier League title in 2016.
In the financial statement, Leicester’s profits before tax increased to £92.5 million from £16.4 million and the club’s turnover was £233 million.
Leicester reached the quarterfinals of the Champions League during the 2016-17 season where they were beaten by Spanish side Atletico Madrid.
Owners the Srivaddhanaprabha family have vowed to reinvest money on new players and a state-of-the-art training complex in order to get back into the competition.
“That experience has strengthened the resolve of all involved with the club to qualify for European football again,” a Leicester statement read.