Leicester City has taken out further loans from the Australian bank Macquarie to improve the club’s cash flow. The latest Companies House documents show that three separate loans have been arranged. One of them is likely intended as a safeguard in case the stadium redevelopment begins.

Securing the funds?

One of the loans was used to accelerate the payments for Kiernan Dewsbury-Hall's transfer. The academy graduate was sold this summer for £30 million, but City didn’t receive the full amount upfront. Instead, the deal was split into three installments of £10 million each. While the first payment was made immediately, the second and third are due from Chelsea on July 14, 2025, and July 14, 2026. Rather than waiting for these payments, City took a loan from Macquarie to receive the funds upfront.

Of the remaining two loans, one is secured by Premier League payments due to the club between September 2024 and June 2028. This means the loan is also backed by potential parachute payments that the Premier League would have to pay if the club were relegated during that time. Part of these funds is also intended to finance the initial phase of the King Power Stadium renovation.

© Leicester City FC

What’s happening with the redevelopment plans?

Since the full approval under the Section 106 agreement for the stadium’s expansion was granted last December, there have been few updates. At the club's recent Your 90 Minutes meeting between Leicester fans and fan representative Jim Donnelly, a question was asked about the stadium expansion. The response was that the work likely wouldn’t begin before 2026. The green light given to the club by Leicester City Council is valid for five years, meaning work on the new stadium for the Foxes must begin before the end of 2028.

The planned modernization includes expanding the east stand by 8,000 seats and constructing a fan zone, an events and entertainment hall, a 220-room hotel, and a residential tower. The project was supposed to be handled by Laing O'Rourke, and club representatives emphasized that the overall plan was key to the viability of the entire investment, with its approval being a crucial milestone for the broader project. Leicester has already acquired land adjacent to King Power Stadium, which was seen as an opportunity to enhance the club’s overall commercial offering. Since the approval for the stadium expansion was granted, there has been little new information on the progress of the project.

© Leicester City FC