Trust Reacts to Renewed Mandaric Speculation

FOXES TRUST PRESS RELEASE: FOR IMMEDIATE USE 

Following Milan Mandaric recently severing all ties with Portsmouth, The Foxes Trust has reacted to the renewed speculation linking him to a takeover bid for Leicester City. 

Ian Bason, Chairman of the Trust said “Obviously for any individual or team of investors looking to run a football club, Leicester City is an attractive option, with first class facilities ready made for Premiership football. The club has recently been run as a tight ship, keeping debt under control, while being undercapitalised, so that combination means it is a desirable proposition. The new Sky deal further increases the attractiveness of taking a mid table Championship club back to the Premiership” 

Bason added “We would welcome any investment that is in the best interests of LCFC, its supporters & local community. However we would need to see the detailed proposals of any potential major investor, should they come forward, before commenting further” 

Bason continued “Should a bid be launched, we would not make any snap decisions on backing a bid based on the reputation of any individual, we would need to look in detail at such things as plans for owning the stadium, ensuring fans won’t be priced out of attending games, as well as the more glamorous topic of funds for players……

We also cannot assume funds are in place, for instance if you look at what happened with the previous owners at Derby who just increased the debt and there are many other cases of white knights who didn’t deliver the finances promised at the time of buying a club” 

Bason concluded “If ownership of the club passed to non Leicester City fans then more than ever it is vital that an elected fan is part of the new board to ensure fans interests are always in the thoughts of those running the club”   

Additional notes for editors (feel free to print any of the content below) 

The Foxes Trust was formed in 2002 and came to prominence when it helped save Leicester City Football Club when it was in administration. It is now one of the largest Football Trusts in the UK and is one of the top 15 shareholders of Leicester City owning in excess of £150,000. 

It is entirely separate from the management of Leicester City and any other supporters’ organisations. It exists to ensure that the problems which resulted in administration in 2002 do not recur, and to represent the City supporter and supporter interests at the highest levels within the management of the club.

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