Milan Mandaric is the new owner of Leicester City Football Club, but he wouldn't reveal how much he'd paid for it. He did, however, confirm that he would be investing significant sums into Leicester City, and made it clear that he has high hopes of getting the club back into the Premiership quickly. BBC Radio Leicester's Jon Barber was at the press conference, and you can listen to it here in full... Another question that fans will want an answer to is regarding the future of City Manager Rob Kelly. Mr Mandaric confirmed that Rob Kelly will stay in charge at Leicester City, but revealed that he had had discussions with other managers, including Ian Dowie. Mr Mandaric had dinner with Rob Kelly last night, and said the meeting had been productive and upbeat and that he would be offering Kelly his full support. 12 February BBC Leicester can exclusively reveal that Serbian businessman Milan Mandaric has received commitments from more than three-quarters of the Leicester City shareholders, and will be in charge of the club within days. BBC Radio Leicester's Jon Barber has the latest... Lawyers for Mr Mandaric and Leicester City need to complete the final paperwork, but it is said to be a formality, and there could be an announcement that the £25million deal has been done by the end of the day. The Head of the Foxes Supporters club, Cliff Ginetta, says that after months of negotiations they're anxious for the deal to finally be complete, so the club can regain some stability. 02 February Serbian businessman Milan Mandaric has spoken out to calm the nerves of Leicester City supporters, following all the twists and turns of his proposed takeover. Speaking from Belgrade, Mr Mandaric says he remains committed to taking control of the football club. In an exclusive interview with BBC Leicester's Jon Barber, Mr Mandaric says he has found it a very difficult process... Meanwhile, Mandaric says he'll now have to turn to loan signings to improve the side. He remains confident he can take control of the club in the next few weeks, and is already thinking about ways to improve the side. 04 January 2007 Milan Mandaric's takeover of Leicester City could be significantly closer to being completed, after the resignation of a leading club director. City law partner James Johnson has left the board and it's believed he couldn't support a recommendation to shareholders that they accept the bid. His resignation means the Foxes board of directors could now be ready to recommend Mandaric's offer to buy the club within the next 48 hours. 01 January 2007 BBC Leicester understands that Leicester City have been made a final offer by Milan Mandaric for a takeover of the club. BBC Leicester's sport reporter, John Sinclair brings you the details... It's also understood a deadline has been set by the former Portsmouth owner for the offer to be accepted or rejected. An EGM of City's shareholders will need to approve the offer and since two weeks notice has to be given, it's understood that a deal, although still likely, will possibly not be concluded before the end of the January transfer window. 18 November 2006 At Leicester City's E.G.M the club's shareholders voted to allow Milan Mandaric to see the accounts. BBC Radio Leicester's Jon Barber spoke to Leicester City's chairman, Andrew Taylor, after the E.G.M... 36 of the 48 shareholders were at the meeting, and the vote was carried unanimously. Mandaric will now have approximately two weeks to look at the books and shape his bid, before coming back to the club. The shareholders will then have 21 days to make their decision, although it must be remembered that Mandaric could pull out at any time. 17 November 2006 Leicester chairman Andrew Taylor has told fans there will be no immediate decision on whether to sell the club made at tomorrow's extraordinary general meeting. The Foxes 47 shareholders are due to meet on Saturday morning to discuss the terms of Milan Mandaric's £25million takeover proposal. Taylor said: "Naturally, and understandably, there has been considerable focus on an offer tabled by Milan Mandaric to buy the club." "In the event that following the shareholders meeting Mr Mandaric wishes to pursue his indicative offer he must circulate a formal offer document and shareholders will have a minimum period of 21 days to accept or reject it." "We cannot get ahead of ourselves and try to rush this." Taylor, who took charge in the City boardroom during the summer, admitted the Foxes were in need of a cash injection. "We are now in our third consecutive season of football outside the top flight of English football." "That is the first time we have been so since the early 1990s and there is a price to pay for that absence." Have your say... Do you think LCFC should stop dragging their heels and make a decision quickly about Mandaric? If they don't will they risk losing something great for the club? Have your say on the BBC Leicester message board... 09 November 2006 Leicester City and Milan Mandaric met yesterday to begin discussions in relation to the former Portsmouth Chairman's bid for the club. Mandaric headed out of the country today from Luton airport but, before he left, he spoke to BBC East Midlands Today's Natalie Jackson. Watch Mandaric's first television interview on his bid to become the new owner of Leicester City... He also spoke to BBC Radio Leicester's Jon Barber, who started off by asking Mandaric what happened in his discussions with Leicester City on Monday. Listen to Jon Barber's interview with Mandaric... Mandaric says that his meeting with City was a "positive, constructive discussion" and he believes that it's only a matter of time until his offer is accepted. He is confident that an agreement will be signed by 15 December 2006, in plenty of time for when the January player transfer window opens.
 | | Jon Barber |
Mandaric would not give an exact sum, but has revealed that following yesterday's negotiations he has increased his offer to the shareholders to cover their original investment, which is in the region of six million pounds. The club released a statement earlier to say that discussions are ongoing, but Mandaric says that his proposals will be put before an emergency board meeting a week on Saturday. The shareholders would then have two weeks to vote on whether to accept the bid. Leicester City say that Mandaric's bid is one of a number of options which they are currently considering. Jon Barber believes that there are a couple of interested parties in America, and one from the Midlands. Listen to Jon's interview with Mandaric before negotiations began: It now seems that he will be allowed to discuss his plans in further detail with the board, who would still need to gain approval from the 47 shareholders before any deal could be approved. Barber's Mandaric Blog... Read Jon Barber's Blog from the Box to find out what he thinks about the possible takeover. Background on Mandaric's Bid Milan Mandaric walked away from Portsmouth in September 2006 after eight years in charge of the south-coast club and admits he would have preferred a longer break before taking control elsewhere. But the Serbian-born American tycoon has found himself overwhelmed by offers from clubs who wanted to get him involved and felt under pressure to move quickly. He promised Leicester fans his main aim was to take the club back into the Premiership. Mandaric, 68, said: "I feel I have made a fair and generous offer to acquire Leicester City Football Club from the present shareholders. "Under the circumstances and following a very emotional departure from Portsmouth Football Club after nearly eight years of ownership, I have given serious thought to the offer, the timing and the implications of such a bid." Keep listening to BBC Radio Leicester and watch this space for more news about Milan Mandaric's possible purchase of Leicester City. | 
