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Page last updated at 13:28 GMT, Monday, 7 March 2011

Leicester announce increased losses of 7.5m

Leicester City

Leicester City have announced increased losses of £7.5m for the financial year ending in May 2010.

The figures represent a rise in £1.3m on the year ending in May 2009.

Chief executive Lee Hoos said the figures reflected the club's attempts to capitalise on their return to the Championship after promotion in 2009.

And with the new Thai owners already investing more than £10m since taking over in the summer, next year's losses look certain to rise again.

A statement on club website from Hoos said: "Though a second successive promotion ultimately proved beyond our reach, our competitive position going into the final stages of the current campaign shows that these efforts were not in vain.

"With the club now under new ownership, that momentum can now truly be maximised as we seek to achieve our ambition of winning promotion to the Premier League."

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see also
Raksriaksorn named Foxes chairman
10 Feb 11 |  Leicester
Owners aiming high - Fazackerley
22 Dec 10 |  Leicester
Foxes takeover cleared by League
22 Oct 10 |  Leicester

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