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Leicester City’s owners have resisted the urge to increase the King Power Stadium’s capacity in the past because they didn’t want to damage the matchday atmosphere.

Chairman Vichai Srivaddhanaprabha has revealed the club has considered developing the stadium for the past eight years, but wanted to ensure the demand was there and that City’s matchday atmosphere would remain vociferous.

Khun Vichai believes the time is now right for an expansion of the King Power Stadium and plans are now being discussed, but he said it was too early to reveal how the development would take shape and how much the ground’s capacity would be increased.

“It is something we have thought about a lot over the last eight years, but we had to be sure that the club was ready to take that step and that it was consistent with the sustainable growth of the club,” he wrote in the matchday magazine for the visit of Wolverhampton Wanderers.

“The King Power Stadium atmosphere has been such a big asset to Leicester City during that time that we had to make sure any possible expansion would be good for the matchday experience and the advantage it gives to the team on the pitch.

“Having studied the evidence and current trends we felt now, following the growth and success of the last two years, was the time to move forward.

“It’s a really exciting project that we are determined to deliver for our fans and the Leicester community.

“King Power Stadium is already a major asset to Leicester that has not only been the stage for some of the greatest sporting stories ever seen, but it has brought some of the finest international sport to the city too.

“The Premier League, the Champions League, the Rugby World Cup, senior England internationals – all major sporting events and competitions this stadium has hosted, proudly bringing attention, prestige and economic revenue to this great sporting city.

“Imagine what will be possible with an increased capacity, improved facilities and purposeful investment in the surrounding site.

“We see it not only as an opportunity for the club, but as our duty to give the city of Leicester a venue and a destination worthy of its strong standing in world sport.”

It has been rumoured for some time that the East Stand will feature in any redevelopment and expansion, but Khun Vichai said decisions are still to be made.

“There are still parties to be consulted and processes to be observed before we can commit to a timeline or detailed plans, (including capacity), but I’m confident that, with the support of our fans and our community, we will be able to reports some progress in the near future,” he added.