BusinessBusiness RecoveryLineker to bid for Leicester City

Lineker to bid for Leicester City

A consortium, led by Gary Lineker, has put a bid to Leicester City Football Club administrators, to buy the cash-strapped First Division club.

Link: Leicester City shares de-listed from AIM

The bid was put to administrators at a press conference held at the Walker Stadium, Leicester City FC’s home ground, early today.

This follows news that the club’s shares had been removed from the Alternative Investment Market.

Administrators from Deloitte & Touche confirmed they had received the bid from the consortium, and said it, along with other offers, was being considered.

The actual size of the bid is not known or though some estimates have put it at between £4m and £5m.

Leicester went into administration at the end of October with debts of about £30m.

The club’s players agreed to defer part of their wages to meet a required 20% cut in the wage bill.

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