Leicester City confirms debt-to-equity conversion of £8.5 million

Leicester City has confirmed a debt-to-equity conversion operation amounting to £8.5 million, as reported by Ben Jacobs.

However, the club's ownership structure remains unchanged.

Leicester owners retain their positions

The debt-to-equity operation involves converting existing club debt into equity stakes. In this instance, though, the deal has not altered the ownership of Leicester City.

This means that the £8.5 million has been transformed into club capital without introducing new owners or changes in ownership structure.

For Leicester, this signifies a strengthened balance sheet while retaining control over the club with no external interference.