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The Leicester City notebook, looking at the loans arranged with Australian bank Macquarie and a speculative date for the start of the King Power Stadium expansion
Leicester City have again taken out loans with Australian bank Macquarie to aid cash flow at the club.
The latest filings with Companies House show three separate loans have been arranged, with one used to bring forward the payments Chelsea owe City for the transfer of Kiernan Dewsbury-Hall. The academy product left in the summer for £30m but City didn’t receive all of the money up front.
Instead, the deal was split into three instalments of £10m. While the first instalment was paid up front, the second and third are due to be paid by Chelsea on July 14, 2025, and July 14, 2026. Rather than waiting for those payments, City have taken out a loan with Macquarie to receive them up front.
This has been a practice at City for some time. They also took out loans on instalments due for the transfers of Riyad Mahrez, Wesley Fofana, James Maddison, Harvey Barnes and Timothy Castagne.
This has been a practice at City for some time. They also took out loans on instalments due for the transfers of Riyad Mahrez, Wesley Fofana, James Maddison, Harvey Barnes and Timothy Castagne.
Of the other two loans, one is secured against Premier League payments heading to the club between September 2024 and June 2028. That means the loan is also secured against potential parachute payments owed by the Premier League should City fall out of the division in that timeframe.
There’s been very little movement or information on the expansion to the King Power Stadium since total approval was granted with the Section 106 agreement coming through last December. And it seems there won’t be movement for a while.
At the club’s latest Your 90 Minutes meeting between fans and supporter liaison officer Jim Donnelly, a question was asked over the stadium expansion and the answer that came back was that work was unlikely to begin before 2026. The green light given to the club from Leicester City Council lasts five years, so work needs to start before the end of 2028.
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