Mandaric still in Foxes hunt
18 Dec 2006 - 13:21:29
Milan Mandaric's £25million takeover of Leicester City is still on according to the former Portsmouth chairman's advisors.
Reports in the weekend press suggested the former Pompey supremo was poised to pull the plug on the deal following the discovering of extra debts that weren't revealed in the early stages of the buyout process.
Advisors working on behalf of Mandaric have scotched the rumours but have warned that the deal could be in danger if a revised price can't be agreed.
"Discussions between Mr Mandaric and Leicester City in connection with Mr Mandaric's interest in the club are continuing," read a statement.
"The ongoing due diligence into the affairs of the club has raised certain legal and financial issues which merit further investigation.
"The club and Mr Mandaric are working together with their respective advisers to seek to address these points."