Thai-Based King Power Group Takes Over Leicester City

[webfact]

FOOTBALL

Thai-based King Power Group takes over Leicester City

By Sky Sports

A consortium headed by Thai businessman Aiyawatt Raksriaksorn has completed a takeover of Leicester City.

It has acquired the club from Milan Mandaric, who purchased the Foxes back in 2007. He will stay on as chairman at the Walkers Stadium, as he is a stakeholder in the Asia Football Investments consortium.

A deal had been on the cards for Leicester, with Raksriaksorn's duty-free shopping business King Power Group securing a three-year sponsorship deal with the club last week.

Financial details of the takeover have not been revealed, but Mandaric has promised 'exciting' times ahead for the Championship outfit.

He told the club's official website: "We are celebrating today as the deal represents three things.

"First, ambition: this will help us push forward to compete harder for a place at the top of the table of English football.

Talent

"Second, strength: it will strengthen the squad and youth academy by bringing 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 focused and in place to keep our plans and ethos alive."

Mandaric added: "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 under way and we plan for further exciting developments in the near future."

Leicester boss Paulo Sousa has also welcomed the news, saying: "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.

-- The Nation 2010-08-13

[alant]

With luck we will get more Championship football on True visions (or Thai TV) now

[Piengrudee]

Do you think the money comes from Thaksin in the background? Or maybe Newin?

[mrtoad]

I'd be wary about going in the club shop, if they are running it.

[tso310]

Do you think the money comes from Thaksin in the background? Or maybe Newin?

I'm sure I saw something that Newin was involved. Interesting to see if Leicester come to LOS for a couple of games or even PEA in England.

[bangkok blue]

Being a huge Leicester City fan and having been based here for 6 years I'm over the moon about this takeover! Unlike most clubs who are taken over by owners who use loans to finance the deal, from what I understand he is using his personal wealth. Valued at around 120mil pounds.

Where did you hear that Newin was involved in this??? Is he an associate of Thaksin? Rumours are another family are going to be brought into the consortium later this year.

BLUE ARMY!

[mrbojangles]

I'd be wary about going in the club shop, if they are running it.

My first thoughts exactly Toady. They'll nab the supporters on the way out and force them into paying a 2 quid fine or risk missing the number 56 bus

[salty]

Beware a duty free group bearing gifts.

[Rinrada]

Nothing to do with L.C F.C but if after the match you facy a John West sarni...

see the Som Tam Lady.....

just noticed last week....

THAILAND'S largest canned fish producer has agreed a deal that will put the 140-year-old British Company John West brand under Asian control.

The acquisition will turn Thai Union Frozen Products into the world's largest seafood group, propelling it ahead of rivals in the United States and Japan.

TUF is buying MW Foods, which owns the John West brand, from Trilantic Capital Partners, for $US884million ($992m) .....Poor Thai fisherman indeed...Loadsa Bt....how about a discount.

The deal is designed to give TUF significantly greater processing capacity, a bigger fishing fleet and far deeper access to European markets.

It will gain a portfolio of four large and venerable European brands assembled under the MW Foods banner and originally divested by Heinz.

The jewel in the crown, however, is understood to be John West, the British seafood cannery with a distribution network in 38 countries worldwide.

The price paid by the Thai company for its acquisition was in the middle of the expected range and deal insiders told The Times that both sides had achieved "a fair price".

The deal is the second-biggest overseas investment in Thailand's corporate history.

[LCFC]

Being a huge Leicester City fan and having been based here for 6 years I'm over the moon about this takeover! Unlike most clubs who are taken over by owners who use loans to finance the deal, from what I understand he is using his personal wealth. Valued at around 120mil pounds.

Where did you hear that Newin was involved in this??? Is he an associate of Thaksin? Rumours are another family are going to be brought into the consortium later this year.

BLUE ARMY!

Hi There, I live in Leicester, I hear that the Leicester games are going to be beamed back to you in Thailnd, is there anyway I can join a site and pay to watch ??

Thanks, Roy.

[MSingh]

Being a huge Leicester City fan and having been based here for 6 years I'm over the moon about this takeover! Unlike most clubs who are taken over by owners who use loans to finance the deal, from what I understand he is using his personal wealth. Valued at around 120mil pounds.

Where did you hear that Newin was involved in this??? Is he an associate of Thaksin? Rumours are another family are going to be brought into the consortium later this year.

BLUE ARMY!

Hi There, I live in Leicester, I hear that the Leicester games are going to be beamed back to you in Thailnd, is there anyway I can join a site and pay to watch ??

Thanks, Roy.

I don't think it actually works like that to be honest but if anyone's your Man to answer this is it Bangkok Blue that's for sure..

[alfieconn]

Being a huge Leicester City fan and having been based here for 6 years I'm over the moon about this takeover! Unlike most clubs who are taken over by owners who use loans to finance the deal, from what I understand he is using his personal wealth. Valued at around 120mil pounds.

Where did you hear that Newin was involved in this??? Is he an associate of Thaksin? Rumours are another family are going to be brought into the consortium later this year.

BLUE ARMY!

Hi There, I live in Leicester, I hear that the Leicester games are going to be beamed back to you in Thailnd, is there anyway I can join a site and pay to watch ??

Thanks, Roy.

Might be more beneficial to come to Bangkok to watch the game and take in the sights after the game has finished , might take a bit of explaining to the missus thou.

[basjke]

I'd be wary about going in the club shop, if they are running it.

My first thoughts exactly Toady. They'll nab the supporters on the way out and force them into paying a 2 quid fine or risk missing the number 56 bus

Any news on Srilanka Tony be appointed as coach?