Leicester City seems to be in a solid financial position despite their relegation from the Premier League. They were able to generate significant revenue by selling valuable assets like James Maddison and Harvey Barnes, bringing in a total of around £80m. Additionally, they received a financial boost from selling Timothy Castagne for approximately £13.5m. Offloading high-wage players like Jonny Evans also helped ease their financial burden.
In terms of signings, the club brought in four loanees, with the possibility of parent clubs covering a portion of their wages. However, their main financial concern is the contract situation of Kelechi Iheanacho, whose contract expires in 2024. If they don’t secure a new contract soon, they risk losing him for free to a club abroad. To avoid this, Leicester may need to consider selling him to a UK-based club or offering him a new contract to ensure they can benefit from his value and secure a replacement if necessary.
It’s crucial for Leicester to act quickly and start contract talks with Iheanacho to ensure they have a resolution in place by the start of 2024, especially considering their strong chances of returning to the top flight next season.
