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.’

Related Articles

Carillion collapse: The week so far and industry reaction

Business Recovery Carillion collapse: The week so far and industry reaction

11h Emma Smith, Managing Editor
Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

Business Recovery Kingston Smith & Partners appointed trustees in bankruptcy of ex-Newcastle United footballer

13h Emma Smith, Managing Editor
Carillion: PwC appointed as special managers – what happens now?

Business Recovery Carillion: PwC appointed as special managers – what happens now?

3d Emma Smith, Managing Editor
Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

1m Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

1m Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

2m Emma Smith, Managing Editor
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

6m Alia Shoaib, Reporter
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

7m Emma Smith, Managing Editor