New dawn: Leicester City are under new ownership after a buyout led by a Thai businessmanLeicester have been bought by a consortium led by Thai businessman Aiyawatt Raksriaksorn.
Financial details of the deal have not been disclosed but current chairman Milan Mandaric will retain his position at the npower Championship club and is a stakeholder in the Asia Football Investments consortium.
Raksriaksorn owns Thailand-based duty-free shopping business King Power Group, which last week secured a three-year shirt sponsorship deal with Leicester.
The last Thai venture into English football ended in acrimony when former Prime Minister Thaksin Shinawatra, ousted in a 2006 coup and still living in exile, bought Manchester City and sold the club a year later.
Mandaric believes the deal will empower Leicester and help the club achieve their ambition of returning to the Barclays Premier League.
'The deal brings new strength and energy to Leicester and offers a tremendous opportunity for supporters and the club,' Mandaric said via a statement.
'We are celebrating today as the deal represents three things. First, ambition. This will help us push forward to compete harder for a place at the top table of English football.
Staying put: Milan Mandaric will keep his position at the club'Second, strength. 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. I am delighted to remain as chairman and a stakeholder in the new consortia. I am pleased Lee Hoos, the chief executive, and his winning team remain focused and in place to keep our plans and ethos alive.'
Aiyawatt added: 'We are delighted that Asia Football Investments has secured this exciting deal. I am passionate about football and I see in Leicester City as a club with tremendous passion and potential.
'It has excellent management on and off the pitch and I am convinced that it has the right mix of ambition and realism to drive the team, and club, forward.
'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.'
source :dailymail
