Our system detected that your browser is blocking advertisements on our site. Please help support FoxesTalk by disabling any kind of ad blocker while browsing this site. Thank you.
Jump to content
Jodranadinho

Stringer hint?

By Jodranadinho, in Leicester City Forum

Recommended Posts

kylecoare

kylecoare

Posted
Posted

League yet to ratify Leicester takeover

The sale of Leicester City announced a fortnight ago by the chairman Milan Mandaric has not yet been approved by the Football League. In an apparent breach of new league rules introduced earlier this month, no prior notification was given by Leicester as to who the new owners and directors were, so that they could be cleared as "fit and proper" people.

The new "owners and directors" test was adopted by the league on 4 August when its clubs voted to accept the increased £66.24m in "solidarity" payments from the Premier League in each of the next three seasons. The rule states that clubs must give "pre-notification" to the league of incoming owners and directors, who must certify that they do not have current convictions for fraud-related offences.

Mandaric announced on 12 August, eight days later, that the consortium, led by the 25-year-old Aiyawatt Raksriaksorn, "has acquired" Leicester City. However, at that point no details at all are understood to have been sent to the league. Information has now been presented on the prospective new owners and the financial backing they have, but the league is understood still to require further detail and so has not approved the takeover.

"We cannot ratify the takeover until all necessary information has been received and proves satisfactory," a spokesman said.

Mandaric said Leicester City "both supports and welcomes the new rules" and suggested that the failure to provide information to the league in advance was because new rules require a "bedding-in period".

Archived

This topic is now archived and is closed to further replies.

Go to topic listing
×
×
  • Create New...