Leicester have announced chairman Aiyawatt Srivaddhanaprabha has relieved the club of the outstanding £194million debt which was owed to parent company King Power International.
The Premier League club said over £194m in loans and related interest had been capitalised into equity issued to KPI, which is wholly owned by the Srivaddhanaprabha family.
Leicester said in a statement: '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.