Crunch time
Milan Mandaric has submitted his revised terms to take over Leicester City just four days before the January transfer window opens.
The club's shareholders now have to decide whether to accept in principle the latest figures in a prolonged saga that appears to be going right down to the wire.
Mandaric's offer still amounts to £25million but the terms have been revised.
If Mandaric, below, is to be in a position to hand manager Robert Kelly funds in time for the opening of the transfer window on Monday, a decision will have to be made quickly.
After going through the books during a process of due diligence, Mandaric's advisors found a higher level of financial burden than they had been led to expect.
City insisted at the time that the deal was still on-going.
Mandaric has lost none of his enthusiasm for the takeover but wants it to happen as soon as possible so he can set about reviving City's fortunes.
Time, however, is of the essence and it is now down to the shareholders who, famously, gave Mandaric's first offer the green light six weeks ago.
The new terms are not the official bid, only the 'heads of agreement'. If the shareholders reject, or ask for more time to consider, then the process will be delayed even further.
Mandaric is totally committed to the deal, and City claim to be as well. Yet the way things are being dragged out does neither of them any good.
If Mandaric does become the new owner in time, then City can work in the transfer market.
If there is a delay, then the chance will be missed.
Thankfully, the picture is a bit clearer on the playing side where City have recovered from a bad run during which they took just one point from 18, and look poised to end a traumatic year in reasonably promising shape.
Kelly, as always, needs to concentrate on "the real world", as he calls it, and cannot afford to imagine what may, or may not, transpire in the next few days.
He said: "All we are thinking about is going to face Southampton on Saturday. That is all we can do.
"We have won our last two away games and will go there with no fears, but we do know they have a good home record and that it will be difficult.
"With so many games coming at us at this time, we are in reasonably good shape, with no major injury worries among the regular players. But that can soon change so we need as many of them as possible fit and ready."
- thebluearmy.co.uk
