Sources: Leicester City fire sale on the cards as £93m news confirmed
There are major concerns about a potential fire sale at Leicester if they are relegated from the Premier League, sources have told Football Insider.
The Foxes’ brush with the drop comes after the club recently announced record losses in their 2021-22 accounts.
In a statement (7 March), Leicester revealed a pre-tax loss of almost £93million – which they partly attributed to the effect of the Covid-19 pandemic.
It is believed that a number of key stars could force an exit from the King Power Stadium in the event of relegation.
Football Insider revealed on Tuesday (11 April) that Newcastle are among the Premier League clubs ready to pounce for Foxes midfielder Harvey Barnes if they go down.
Leicester are well-renowned for receiving huge fees for their prize assets, after banking big profits on the likes of Harry Maguire and Wesley Fofana.
The Midlands club were reluctant to invest in the playing squad this season – despite selling defender Fofana to Chelsea for a reported initial fee of £70million.
As per Transfermarkt, Leicester were one of only four Premier League clubs to turn a profit in the transfer market this season – making almost £29.5million.
Defender Wout Faes was the club’s only summer signing, and he was joined by centre-back Harry Souttar and left-back Victor Kristiansen in January.
The club’s lack of transfer activity has hurt Leicester’s progress in the top flight – and they are now staring down the barrel of potential relegation just seven years after lifting the Premier League title.
The Foxes sit 19th in the table and are two points from safety with eight games remaining this term.
Long-serving boss Brendan Rodgers was sacked earlier this month – and former Aston Villa manager Dean Smith has since been appointed on a short-term deal.
In other news, update on Graham Potter taking Leicester job this summer.