On 29 May 2023, Aiyawatt Srivaddhanaprabha, the chairman of Leicester, released a statement saying that despite their relegation from the Premier League, the Foxes “will be back”. Srivaddhanaprabha acknowledged the significant setback of relegation and the pain it has caused, but he also highlighted the progress the club had made since his family took ownership in 2010, including their promotion, Premier League and FA Cup wins, and European runs. He also noted that major changes are likely this summer due to several key players and manager Dean Smith being out of contract.
Srivaddhanaprabha also addressed the messages he had received from fans, some of which asked him to sell the club and some of which were offensive and abusive. He emphasized that for every hurtful message he had received, he had also received messages of support, appreciation, and unity. He concluded by saying that the responsibility he has for the club is one of the greatest responsibilities in his life and that he will continue to put everything into it.