trueNah - the most annoying thing is the fibs about the financial position then and now.
Mandaric leaves Leicester
Serb set for Sheffield Wednesday role
Milan Mandaric has formally stood down as chairman of Leicester City ahead of his buy-out of Sheffield Wednesday.
The former Portsmouth owner, who sold his controlling stake in Leicester earlier this year, was still chairman of the Foxes.
But he has now sealed a deal to take over Sheffield Wednesday and, as such, he has relinquished his role with Leicester.
"Leicester City will always be in my heart. This club is Premier League in everything but name," Mandaric told the club's official website.
"The stadium and the supporters are both first-class, and this decision has been extremely difficult for me to make. It is the end of an era for me and because of that I am very emotional.
"However, it is now time for me to step aside. The new owners are fantastic people, with a great passion and enthusiasm to achieve success for Leicester City.
"I have always maintained that I would only leave the club once we were in a much better position than when I joined. I can now say, with complete confidence, that we have reached that position.
"The club was in a very poor financial position when I first arrived, with even their existence in jeopardy.
"During my time at the club, along with all of the dedicated staff, we have turned the business around and I pass on a strong, vibrant club, ready to embark on the next chapter in an illustrious history. I am very proud of what we have all achieved.
"In addition to the new owners, the club now has a world-class manager in Sven-Goran Eriksson and talented staff on and off the field. Let there be no doubt that there will be many bright days ahead for Leicester City Football Club."
"The stadium and the supporters are both first-class, and this decision has been extremely difficult for me to make. It is the end of an era for me and because of that I am very emotional.
Thanks Mandy - and good luck at Sheff Weds.
Thanks Mandy - and good luck at Sheff Weds.
good luck at Sheff Weds.
I think that everything Mandaric has said is pretty much accurate. He inherited a shit side making massive losses off the field and even though things took a turn for the worse the first season, him and Nigel Pearson eventually reindtroduced the word 'respect' into the club through winning league one at the first attempt - using young and home grown players.
After a near miss in the play-offs subbing the club to the tune of £5m a season, he then brokered a deal which now sees the club owned by investors that have bought England's most successful post 1966 manager to the club along with Kirkland, Naughton, Davies, Cunningham, Bednar, Waghorn and Vassell from Premier League clubs, to add to the squad that achieved the playoffs last year.
A huge crowd, touching 30,000 will watch us play Nottingham Forest on Monday - and a win will take us within touching distance of the play-offs once more. Increased exposure for the club in the media, including regular televising of our games in Thailand, the far East and Sweden will hopefully see revenue streams increase as expenditure increases - through media rights, merchandise sales and youth football links. This will hopefully provide, if not an entirely balanced business model, at least a slightly sounder footing for the club than when we hadn't tuppence ha'penny to rub together and a shite side getting beat every week. As far as i'm aware the money in the club is real money, not loaned money - with King Power not using high interest 'payment in kind' loans against the club to finance their punt at the premier league.
Thanks Mandy - and good luck at Sheff Weds.
Whatever people think of him...he was the only person prepared to take over our club and try to put it right.
P | Pld | Pts | |
1 | Liverpool | 6 | 15 |
2 | Manchester C | 6 | 14 |
3 | Arsenal | 6 | 14 |
4 | Chelsea | 6 | 13 |
5 | Aston Villa | 5 | 12 |
6 | Fulham | 6 | 11 |
7 | Newcastle | 6 | 11 |
8 | Brighton | 6 | 9 |
9 | Nottm F | 6 | 9 |
10 | Tottenham | 5 | 7 |
11 | Manchester U | 5 | 7 |
12 | Brentford | 6 | 7 |
13 | Bournemouth | 5 | 5 |
14 | West Ham | 6 | 5 |
15 | Everton | 6 | 4 |
16 | Leicester | 6 | 3 |
17 | Palace | 6 | 3 |
18 | Ipswich | 5 | 3 |
19 | Southampton | 5 | 1 |
20 | Wolves | 6 | 1 |