UPDATE: Leicester City: More details from those record-breaking accounts

Some people have been asking me for more details about the club's plans to convert its loans into shares.

When I spoke to the club's senior management on Friday they said they were unable to give details on the plan at this stage.

All they were able to say was reported by myself in Saturday's Leicester Mercury.

Here is the relevant paragraph, originally published in Saturday's Mercury.

The club's chairman, Vichai Srivaddhanaprabha, owner of Thai duty-free business King Power Group, took over the club in 2010 after a £39 million deal with previous owner Milan Mandaric. He has given the club loans totalling £61.6 million since he took control, but hopes to eventually convert these loans into shares in an arrangement similar to what has been seen at Chelsea and Manchester City.

Such a move would further underline the owners' commitment to the club. It would also significantly reduce the overall debt.

It seems the owners are looking at this with the Financial Fair Play rules in mind. We now know the loans made by King Power could total between £61.6 million and £77.2 million. The club is paying 8 per cent interest on the majority of these loans.

The debt-to-equity conversion would work, I understand, by the club issuing more shares to the owners and those new shares representing the value of the loans which are being converted.