The Foxes Trust Board is pleased that Leicester City’s Chairman published a statement following the Club’s relegation at the weekend.
All Leicester City fans will, of course, be disappointed and concerned that the Club has been relegated. Relegation has been a fairly frequent experience throughout the Club’s history, but for it to happen this season has understandably surprised and shocked many.
There has been much said and written about the reasons why relegation happened. Like any other fan, individual Foxes Trust Board members each have their own views on this. The purpose of the Trust is not to second-guess football-related decisions made by the Club. It is to ensure that the Club is run effectively and well, and to help ensure that Leicester City never experiences some of the catastrophic financial and governance issues which have impacted on so many clubs recently and, indeed, impacted on our club as recently as 2002.
Since taking over in 2010, King Power and the Srivaddhanaprabhafamily have gained a reputation as owners who have delivered un-heard of footballing success for Leicester City, have been cited as role models for commitment to the local community and who have been prepared to invest in the infrastructure of the Club. We doubt whether any Leicester City fans back in 2010 anticipated a Premier League win, an FA Cup win and the many marvellous nights in Europe. In that context, we welcome the Chairman’s statement of an ongoing commitment to the Club.
Set against that narrative of success, however, this season’s surprise relegation is doubly disappointing, and we encourage the Club’s owners and Board to make a thorough assessment of the lessons to be learned from how it became possible. The immense financial impact of playing in the Championship will have a significant impact on the Club and it is essential that any failures identified in that assessment, whatever they may be, are addressed to ensure future stability and a platform for future success for the Club. We also encourage the owners and the Board to make public their views on those lessons learned in due course, to enable scrutiny and provide reassurance about the long-term sustainability of the Club.
To use a well-worn phrase: we are where we are. Leicester City will be playing in the Championship in 2023/24. The Foxes Trust Board encourage all Leicester City fans to get behind their team as the season starts and to provide the support to help that period of stabilisation and future success to begin.
ENDS