13 Aug 2010Thai consortium snaps up Leicester City

Football Clubs News | Football Finance News

A group of Thai entrepreneurs has completed a takeover deal for Championship football club Leicester City and has already set its sights on driving the team back into the English Premier League.

Current chairman Milan Mandaric will remain as chief at the Walkers Stadium as he has a personal stake in the Asia Football Investments consortium, led by retail businessman Aiyawatt Raksriaksorn.

"This will help us push forward to compete harder for a place at the top of the table of English football," Mandaric told the club's official website. "It will strengthen the squad and youth academy by bringing financial support."

Manager Paulo Sousa also hailed the agreement, saying he is "delighted" new owners have been installed and adding that he is satisfied with the support he has received since joining from Swansea City in the summer.

The last Thai tycoon to own an English football club was controversial former prime minister Thaksin Shinawatra, who bought Manchester City in 2007 and sold the top-flight outfit just over a year later.

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Written by Paul Roberts

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