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.

Related Articles

Carillion CFO blew whistle over 'sloppy accounting' months before collapse

Business Recovery Carillion CFO blew whistle over 'sloppy accounting' months before collapse

3m Alia Shoaib, Reporter
Toys R Us UK and Maplin enter into administration after failing to secure buyers

Business Recovery Toys R Us UK and Maplin enter into administration after failing to secure buyers

3m Alia Shoaib, Reporter
How to avoid a Carillion collapse

Business Recovery How to avoid a Carillion collapse

4m Russell-Cooke
Carillion collapse: The week so far and industry reaction

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

4m 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

4m Emma Smith, Managing Editor
Carillion: PwC appointed as special managers – what happens now?

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

4m Emma Smith, Managing Editor
Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

6m Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

6m Emma Smith, Managing Editor