Leicester City Bought By Asian Consortium
Good God. The Premier League may be starting this weekend but the Championship is doing its hardest to get all the attention. It may be bad news for Bristol City today, but it’s potentially good news for Leicester City who have found investment from a number of Asian companies, who are in a consortium led by Aiyawatt Raksriaksorn (who in the future I will be referring to as “Leicester City owner”). Milan Mandaric will remain as chairman of the club, but the consortium has bought a majority stake in the Foxes and the new owners will take on the clubs debt of £26m as well as the value of the club (which varies depending on who you read). Interestingly about this takeover is that it is one of the first (if not the first) since the FA announced that there would be stricter rules on who could buy a football club after the various financial problems across the league last season.
The Leicester City owner is known for being the owner of Asian duty-free shopping centre King Power Group, the company that will be the Foxes shirt sponsor for the next three years. Exciting indeed, but you wouldn’t argue if people wanted to reserve judgement on this deal, as we’ve seen a number of questionable owners come into the English game over the past few years. But in any case, this may well mean that Paulo Sousa has more money to bolster his squad just before the Championship starts. I always thought this would be an exciting and open season, but I didn’t expect twists and turns like this (especially not two in one day).