Here we go: UPDATE 2.15PM

Leicester City's takeover by a Thai-led international consortium has been announced
Here is the press release from the club;

INTERNATIONAL CONSORTIUM ACQUIRES LEICESTER CITY FOOTBALL CLUB IN ‘TRANSFORMATIONAL DEAL’ ‘NEW STRENGTH AND ENERGY OFFERS TREMENDOUS OPPORTUINTY FOR SUPPORTERS AND CLUB’

Milan Mandaric, Chairman of Leicester City Football Club, has today announced that a new international consortium has acquired Leicester City Football Club and plans to work in partnership with him to secure ‘our ambitious’ and ‘our exciting plans for the future’. He believes the deal will empower LCFC; ‘Bringing new strength and energy to Leicester and offers a tremendous opportunity for supporters and the club’. ‘We are celebrating today’ he continued; ‘as the deal represents three things;’ ‘First Ambition: this will help us push forward to compete harder for a place at the top table of English Football; Second Strength: it will strengthen the squad and Youth Academy by bringing additional financial support and introducing a new global network of contacts and access to player talent; it also represents a third key factor; Partnership: I am delighted to remain as Chairman and a stakeholder in the new consortia and I am pleased Lee Hoos, the Chief Executive and his winning team remain focussed and in place to keep our plans and ethos alive’. The consortium is led by Thai businessman, Aiyawatt Raksriaksorn of the King Power Group, the duty free empire based in Thailand, who last week secured a 3-year shirt sponsorship deal with LCFC. Aiyawatt said today; ’We are delighted that Asia Football Investments has secured this exciting deal; I am passionate about football and I see in Leicester City as 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’. He continued; ‘I do look forward to getting behind the new manager and his team and to enjoying real progress, which I know the fans crave and deserve’. Lee Hoos, CEO, welcomed the new consortium and stated that the partnership is ‘transformational’ and ‘unique’. He said today; ‘It provides a real opportunity for Leicester to grow and transform its status over the next few months and years; we are of course realistic and we wish to assure supporters that this deal will not pile the pressure on the Football Manager and create unreal expectations.’ ‘We have a new young and clearly talented Football Manager in place and our strategy and targets remain the same. We want consistency but also sustainability in our current league, and of course future leagues, and that makes this deal unique as we are signed-up to these ideas. New networks abroad will also strengthen our team and we hope to embrace new ideas from our new colleagues.’ Paulo Sousa said today; ‘Things do move quickly at Leicester City; I was promised support and change when I joined and the Chairman is living up to that promise. I am delighted to welcome the new investors to the club and pleased that Mr Mandaric and I will continue our partnership’. Milan Mandaric concluded; ‘In celebrating the deal I would also like to thank everyone who has believed and continues to believe in my work here which started in 2007’. ‘LCFC has demonstrated an incredible fighting spirit to reach this point where global investors sense the opportunity and feel able to back our plans’. ‘The road to recovery on and off the pitch has not been easy but the supporters, executives and the entire squad have shown real commitment and I know that it will now continue as the new 2010-11 season gets underway and as we plan for further exciting developments in the near future’.