Everyone knows by now that national champions Leicester City is the surprise of the British Premier League. But that the club is owned by a Thai businessman was known to fewer football fans.
Vichai Srivaddhanaprabha became a billionaire after he set up a chain of duty-free shops in 1989. With sophisticated steps and a smart strategy, he succeeded in expanding his chain and securing a monopoly position at Suvarnabhumi Airport near Bangkok. His King Power Duty Free can now be found at every major Thai airport and even has a 12.000 square foot shop in downtown Bangkok.
According to Forbes, the man is one of the nine richest people in Thailand. The 58-year-old Thai has a capital of € 2,5 billion.
in 2010 he bought Leicester then a mid-engine in the class below the Premier League. Before buying the football club, he had been the main sponsor of Leicester from the East Midlands for three years. He paid 'only' € 50 million for the club at the time, but he first had to pay off millions in debt.
Six years later, Leicester City became champions in England, without attracting expensive players. A small miracle according to football experts.
The Wall Street Journal reported that Leicester City spent just €46,3 million on staff and the team. By comparison, Manchester United had a budget of €272 million this season.
The win in the Premier League means that Vichai's investment will now also pay him money. More than £90 million in television rights to be exact.
Vichai, who is actually Raksriaksorn, got the name Srivaddhanaprabha of the Thai king for his charity in Thailand and it means 'light of progressive success'.
Wonderful to see that when everything falls into place, these kinds of stunts can be achieved.
Congratulations to Leicester City, players, coach and management and Vichai Srivaddhanaprabha, an achievement that commands respect.
Will be curious to see how the salary negotiations go with this team after this milestone win.
They will get quite a few, because with those kinds of amounts they could barely get by anyway.
An amount of about 200.000 euros per week is more a justified payment and I mean this sarcastically, of course, that should be clear. Long live the football sport infatuation.
Life is a great theater piece with this as proof, among other things. I rest my case.
Perhaps this is due to the monk Chao Khun Thongchai, who meditates during the match in a special Buddha room, decorated by Vichai Srivaddhanaprabha. The monk does not watch the match, but sends "positive energy."
With all due respect to Mr. Vichai, he was able to build his business empire because he got absolute exclusivity for his tax free shops from his then friend and Prime Minister of Thailand Taksin. Of course it's great that Leicester has become champion, but Vichai has received the necessary 'help' with building his empire.
oh well, nice…. Have we already forgotten Nottingham Forest? 😉
Promote from the 2nd Division to the 1st, immediately become national champion and also win the European title.