Leicester City owners purchase King Power Stadium

Leicester City's owners have completed the purchase of the club's King Power Stadium for £17m.

The Srivaddhanaprabha family have bought the ground from an American pension fund manager through their K Power Holdings company.

Vice-chairman Aiyawatt Srivaddhanaprabha said the news was a great boost for the club.

"It's always been part of our long-term vision to put the stadium back where it belongs," he told the club website. 

"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."