Thai deal for Leicester City
Leicester City have been bought by a consortium led by Thai businessman Aiyawatt Raksriaksorn, it has been confirmed. The Championship club have not disclosed financial details of the deal though current chairman Milan Mandaric is to retain his position at the club and is a stakeholder in the Asia Football Investments consortium.
Raksriaksorn owns Thailand-based duty-free shopping business King Power Group, which secured a three-year shirt sponsorship deal with Leicester last week.
Aiyawatt said in a statement: "We are delighted that Asia Football Investments has secured this exciting deal.
"I am passionate about football and I see in Leicester City a club with tremendous passion and potential.
"It has excellent management on and off the pitch and I am convinced that it has the right mix of ambition and realism to drive the team, and club, forward.
"I do look forward to getting behind the new manager (Paulo Sousa) and his team and to enjoying real progress, which I know the fans crave and deserve."
Mandaric said via the club's website: "The deal brings new strength and energy to Leicester and offers a tremendous opportunity for supporters and the club."
