March 2, 2018 / 6:08 PM / 6 months ago

Soccer-Leicester's target is sustainable success, says chief executive

March 2 (Reuters) - Leicester City will look to build a lasting legacy that involves growth and sustainability after the most successful period in their 134-year history, the Premier League club’s chief executive Susan Whelan said on Friday.

Whelan was speaking after Leicester announced their latest financial results which showed that the club had yielded record pre-tax profits of 92.5 million pounds ($127.32 million) for the year ending May 31, up from 16.4 million in 2016.

Leicester’s progress to the quarter-finals of last season’s Champions League — where they eventually lost to Spain’s Atletico Madrid 2-1 on aggregate — saw their turnover increase to 233 million pounds, over 104.3 million pounds more than in the previous year.

“Securing a legacy for the club’s recent achievements is among our greatest responsibilities, as it will be the platform from which Leicester City can grow and achieve further, sustainable success,” Whelan said.

“Fundamental to that legacy is the commercial consolidation of the opportunities success has afforded the club,” she added.

Leicester, Premier League champions in 2015-16, progressed further than any other English side in Europe’s elite club competition last season and as a result, ticket revenues were boosted by 42 percent despite a third straight year of frozen season ticket prices.

“This allows us to make further long-term investments in outstanding players and key personnel, infrastructure to strengthen our operations and services,” Whelan added.

Leicester, owned by the Srivaddhanaprabha family and its King Power Group of Companies, recently revealed plans for a new training facility in Charnwood.

Transfer fees and improved deals for players saw a 59 percent rise in operating costs to 65.5 million pounds.

Leicester are eighth in the league with 36 points from 28 games. ($1 = 0.7265 pounds) (Reporting by Shrivathsa Sridhar in Bengaluru Editing by Toby Davis)

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