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Bluefoxtim

It's Official

By Bluefoxtim, in Leicester City Forum

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davieG

davieG

Posted
Posted

From the Merc

Leicester City taken over by Thai tycoon - but not the one expected

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Aiyawatt Raksriaksorn

Leicester City's young new owner has declared the club could win promotion to the Premier League this season.

Thai businessman Aiyawatt Raksriaksorn, 25, known as Top, was unveiled yesterday as the head of the consortium which has bought the club.

Top said: "I believe the club have the opportunity to compete in the Championship and go to the Premier League next season."

Under the deal, thought to be worth £39 million, Milan Mandaric will stay on as chairman and hold a minority stake for the next two years.

Top, a football fanatic, is being backed by his father, Vichai, who owns Thailand duty-free business King Power Group and is estimated to be worth £113 million. King Power signed a three-year shirt sponsorship with the club last week. Vichai led the negotiations with Mr Mandaric and it had been presumed he would head the consortium.

Father and son will be at City's home game against Middlesbrough tomorrow.

Vichai, 52, said they did not want to make money out of the club, but provide the cash to ensure they got into and stayed in the top tier of English football. "Leicester is very strong," he said. "We believe we can do something better."

The deal sees Top take a 60 per cent stake. Mr Mandaric and a third, as yet unnamed, Asian business person will own the remainder. Mr Mandaric said this person would be named in the next few months. The new owners will continue to underwrite the club's £26 million debt.

Speaking yesterday, Mr Mandaric said: "It's a special day. I think King Power will give us tremendous additional power. They will invest to make us stable and competitive. I'm happy for the supporters.

"I'm staying on as chairman and an investor and doing everything humanly possible to give support and continue to build this club."

Mr Mandaric, who took control of the club in February 2007, said: "I said three-and-a-half years ago I would take the club to a certain level. These are successful and credible business people."

When asked whether manager Paulo Sousa will be given money to buy new players following the buyout, Mr Mandaric said: "I assume that will be the case."

He added: "Things won't happen overnight. We've got to look at the details. It's not about the money. They believe this club belongs in the Premier League and want to do this as quickly as possible.

"The deal represents three things. The first is ambition, as this will help us push forward to compete harder for a place at the top table of English football. Secondly, it is about strength, as it will strengthen the squad and youth academy by bringing additional financial support and introducing a new global network of contacts and access to player talent. It also represents a third key factor – partnership."

Mr Mandaric, who said he had put more than £9 million into the club, said he would make a loss when he came to sell. "It's not a matter of me getting the money and running away," he said.

When asked when he would exit the club, Mr Mandaric said: "The other investors will take over entirely in two years' time."

Top said: "I am passionate about football and I see Leicester City as a club with tremendous passion and potential. I do look forward to getting behind the new manager and his team and to enjoying real progress, which I know the fans crave and deserve."

Sousa backed the takeover, saying he was pleased Mr Mandaric was staying on.

"I was promised support and change when I joined and the chairman is living up to that promise," he said. "I am delighted to welcome the new investors to the club and pleased that Mr Mandaric and I will continue our partnership."

davieG

davieG

Posted
Posted

Also from the Merc

Leicester City's new owner set to tap into Asia market

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Milan Mandaric, Aiyawatt Raksriaksorn and Vichai Raksriaksorn

Leicester City's new Thai owner says he wants to boost the club's fan base across Asia.

Top Raksriaksorn is also looking to teach football skills to youngsters in Thailand using City's much-respected academy set-up as a template.

Speaking yesterday about Top and his multi-millionaire father Vichai's plans for the club, chairman Milan Mandaric, said: "They wanted to know that this club can be expanded into a huge brand. They admire (academy manager) John Rudkin's academy and want to take it to Asia and build the brand.

"Top is very keen to spread the sport to his country and to advance the academies.

1x1.GIF"There's a lot of synergies here.

"We just don't have some ordinary people who just have money. They are people who have passion and an agenda."

However, the new owner's vision has been questioned by a leading football finance expert.

Professor Tom Cannon, of the University of Liverpool, said none of the big European clubs had made significant money from the Asian market, even when they had set up academies there.

"No football club has thought of a way to make money out of the Asian market," he said.

"The reality is even the clubs with the giant fan bases, such as Manchester United, Liverpool and Real Madrid, haven't made a significant amount of earnings directly from Asia.

"You look at Manchester United, who have academies in China and all over Asia, and say 'how many Asian players have they got playing for them?'

"The biggest income for a club is gate receipts and money from UK and international television deals.

"My guess is that the consortium are looking to earn significant sums out of their investment in Leicester.

"But it will have to be based on what they earn in England through TV and gate income."

However, Vichai said he was not looking to make money out of the club and had previously invested in Thai sports clubs without seeking a return.

"I have supported a polo team in Thailand," he said. "Polo is a sport that doesn't make any profit. We love the sport."

Prof Cannon said the consortium's financial backing stood a good chance of getting City into the Premiership this season.

"It's a good time to do it now because the transfer market is affordable," he said.

"Three or four years ago, for a club to get into the Premiership they would have needed to spend £20 million to £25 million getting there and another £10 million to £15 million to stay there. That's £40 million.

"I think you can halve that figure now. There's no doubt this consortium has access to that kind of money.

"There's no reason why Leicester City can't go from a middle-ranking Championship team to a middle-ranking Premiership one."

Edmund

Edmund

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Singh I'm shocked you've not ranted about the consortium being referred to as Asian. :whistle:

Dr The Singh

Dr The Singh

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Singh I'm shocked you've not ranted about the consortium being referred to as Asian. :whistle:

You know what I was waiting for some fooker to say cus we got a Asian owner now all the fooking Asians from Belgrave and henceforth are gonna come to the games.

At that point I was gonna say, 'you fooking ****, this Thai bloke has no relationship to the hindu majority of Leicester, Asia is a fooking continent with over 500 languages and 500 cultures, being called Asian is like being called euro fooking pean, i fooking hate the word Asian, it means fook all!!!

Seriously, though, I find being called Indian bizarre, considering half of India has never seen a Sikh and knows fook all about Punjab!!! I love being British, life is so much more simpler!!!

Guest

Guest

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After all these years, I'll be able to say 'Top Rak' without getting a slap

Bravo!

:appl:

Bettsj2

Bettsj2

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Not sure how I feel about our club being used as some rich Thai kid's birthday present. Is it just me, or does that make anyone else feel a bit nauseous?

Hadn't really thought of it like that. After reading the QandA on the official site today it seems that they are in for the long haul and aren't just looking at it as some sort of play thing.

Until something goes wrong or cracks start to appear, i'm going to remain stupidly optimistic!!

HonradaRaposa

HonradaRaposa

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Not sure how I feel about our club being used as some rich Thai kid's birthday present. Is it just me, or does that make anyone else feel a bit nauseous?

I find itt more worrying he looks like the chef that used to work in the Thai Orchid kitchen in Oadby.

STUHILL

STUHILL

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Not sure how I feel about our club being used as some rich Thai kid's birthday present. Is it just me, or does that make anyone else feel a bit nauseous?

He probably still plays Football manager too :(

filbertway

filbertway

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I hope Sousa's hands aren't Thaid when it comes to signings.

I'm sure he'll thai his best to make sure he is in full control of that apect of the club

Guest parky0607

Guest parky0607

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I hope Sousa's hands aren't Thaid when it comes to signings.

:sick:

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