Mandaric set for Foxes deal
Tuesday 13 February 2007
Milan Mandaric has said he is finally on the verge of completing his takeover of Leicester. The Championship club have arranged a press conference for noon today and it is thought Mandaric will be announced as the new owner.
He said yesterday: "Things are going forward and I'm hopeful that tomorrow we'll be able to bring everything to a final conclusion but we're not there yet. There are a few legalities to be overcome tomorrow morning but I hope they will be just formalities. I don't like to talk about money, it's too premature to talk about that. I need some time to talk about other things."
The former Portsmouth owner, who sold the club to Alexandre Gaydamak last year, is eager to get back into the game and has been in talks with Leicester for some time. The takeover was expected towards the end of last month, but was put on hold when Mandaric's mother fell ill.
Mandaric's arrival at the Walkers Stadium had already stalled once after due diligence was thought to have revealed the club to have greater debts than he first thought. But that did not dim his interest and, before his family emergency, he had said the length of time it was taking to assume control was "ridiculous" and that the club had missed out on January transfer targets because of the delay.
Mandaric refused to talk about the future of the manager, Rob Kelly, but said his aim was a return to the Premiership.
"I'm not here to take the club in the Championship division," he said. "It's a great division, very competitive but my ambition is higher than that. If I didn't feel I could help I would not be buying the club."
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