Leicester City Football Club reports £29.7m loss

Leicester City made a loss of nearly £30m in the last financial year, according to figures released by the football club.

The club's losses increased by £14.5m during the year ending 31 May 2012, compared to the previous 12 months.

It said increases in wages, lower ticket sales and restructuring costs all contributed to the loss.

A significant investment had been made as part of efforts to get the club back into the Premier League.

Season ticket sales for the current 2012-13 campaign remained stable in comparison with recent seasons, it added.

The club's owners, the Srivaddhanaprabha family, completed the purchase of the King Power Stadium for £17m on Friday.

Chairman Vichai Srivaddhanaprabha said: "My vision for Leicester City Football Club remains unchanged since purchasing the Club in August 2010.

"My commitment to Leicester City has been gratifyingly reciprocated by the club's loyal fans and partners, whose support continues to be valuable in helping the (it) achieve its long-term objectives."