Date: 6th August 2010 at 1:12am
Written by:

A consortium fronted by Thai millionnaire Vichai Raksriaksorn is in talks to buy the club.

Reports suggest that the group are planning to purchase a 49% stake in the club with a view to completing a full takeover within the year.

Should that be the case current owner Milan Mandaric would continue his role as chairman until the consortium took full control of the club.

Along with the investment in the club sees the arrival of a new sponsor, Raksriaksorn’s King Power company.

The Thai supremo made his fortune in duty free sales, and is rumoured to be personally worth somewhere in the region of $180 million.

Rakriaksorn’s daughter Vormas told Bangkok Press that a deal to invest in the club would be concluded shortly.

‘My father loves sport,’ she said.

‘All the rumours about the Leicester City Football Club will be cleared up very soon.’

Confirmation of the buyout of almost half the club is rumoured to be announced at Leicester’s opening home match against Middlesbrough on August 14th.