BusinessBusiness RecoveryDeloitte receives bids for Leicester City

Deloitte receives bids for Leicester City

Gary Lineker's consortium is believed to be one of two bidders that are currently being considered by Leicester City administrators for the sale of the cash-strapped football club.

Link: Lineker to bid for Leicester City

Administrators at Deloitte & Touche confirmed today they have received two indicative bids for Leicester City ,which went into administration in October with debts of about £30m.

Formal bids with detailed business plans are due by the close of business on Friday, they said.

Deloitte was unable to say how much administrators are asking for the club. But the bid by Gary Linker’s group is believed to be between £4m and £5m, although its actual size is not known.

Partner Nick Dargan, one of the administrators, said: ‘Once the detailed bids have been received, we will be reviewing the respective business plans to ensure that any acceptable offer is both in the best interests of creditors and ensures a viable long term future for the football club.

‘Both parties interest is the subject of further due diligence and discussion with creditors and I would predict that any deal would be completed early in January.’

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