Milan Mandaric has emerged the winner in the race to take control of Sheffield Wednesday after agreeing an £8million deal to buy the club.
It is understood all parties concerned have signed a contract and Mandaric's takeover must now be rubber-stamped by the club's shareholders at an extraordinary general meeting.
The 72-year-old Serbian-born businessman, who will now resign as chairman at Leicester, has agreed a £7million settlement with the club's main creditor, the Co-operative Bank, who were owed £23million.
Source: PA
