Owners' fresh boost for Leicester after Souttar signing

Harry Souttar's transfer to Leicester City has come amid excitement at the Midlands club over news of fresh commitment from the Foxes' Thai owners.

The opportunity that Harry Souttar "couldn't turn down" looks even brighter for the big Socceroo after his new club Leicester revealed an important show of faith from their Thai owners.

Souttar's $26m deadline-day signing by the 2016 Premier League champions, has made the defender Australia's most expensive soccer player of all-time, and prompted enthusiasm among Foxes' fans hopeful he can become a key figure in leading them out of the top-flight relegation mire.

"I'm delighted to join such a great football club, and challenging myself in the Premier League is an opportunity that I couldn't turn down," the 24-year-old told Leicester's official website, saying he couldn't wait to get started alongside "fantastic players" in "world-class facilities".

The buzz around Souttar's signing was also improved hours later on Wednesday as the club announced chairman Aiyawatt Srivaddhanaprabha had relieved the club of its outstanding Stg 194million ($A338 million) debt which had been owed to parent company, King Power International.

Leicester said in a statement that over Stg 194m in loans and related interest had been capitalised into equity issued to KPI, which is wholly owned by the Srivaddhanaprabha family.

"These loans have been provided by KPI to the club over the last four years to fund the construction of the club's world-class new training ground at Seagrave and to continue to support the club's investments into its squad and women's football during the Covid-19 pandemic," the statement said.

"Their conversion into equity serves to strengthen the club's balance sheet, reduce its interest costs, and provide further evidence of KPI's commitment to supporting the club's long-term sustainability."

Srivaddhanaprabha said: "We want to make sure we continue on that path from the strongest, most secure financial footing.

"I believe with all my heart in Leicester City and what the club can achieve for our fans, our people and our communities - in Leicester, Thailand and around the world."

The Srivaddhanaprabha family took control of Leicester from previous owner Milan Mandaric in 2010, and oversaw both their remarkable Premier League title success in 2016 and their FA Cup triumph in 2021.

But the club has had a difficult season and currently lie 14th in the table, just onepoint above the relegation zone.

Souttar is seen as key to help strengthening Leicesters leaky rearguard which has conceded 35 goals in the league this season, a total topped only by Bournemouth's 42.

He should come straight into consideration for Leicester's match at Aston Villa on Saturday (Sunday AEDT) but after struggling with a minor hip injury and left out of Stoke's FA Cup tie at the weekend, Souttar may not be ready to make his top-flight bow.