AdminLeicester City’s takeover saga has taken another twist after former Everton and Aston Villa chief executive Keith Wyness questioned the seriousness of Neil Lal’s bid for the club.
Lal is part of a consortium interested in acquiring Leicester, with King Power continuing to explore options for the club’s future.
However, Wyness has expressed major doubts over the approach being taken by the Scottish-Indian businessman.
Speaking to Football Insider, Wyness claimed Lal’s chances of completing a takeover were virtually non-existent because of his reported intention to negotiate directly with King Power rather than going through the banks involved in the process.
“I would put it at about zero.
“I’m afraid that when you start to bypass the bank that’s in charge, you’re not serious, in my point of view. A lot of what he said, I’ve got to discount as not being realistic and not experienced in football.
I’ve heard there are three other groups involved, and I’m almost discounting him straight away. That’s my point of view.”
Leicester’s financial situation has increased the urgency surrounding the takeover search following successive relegations and a significant fall in revenue.
The club recently converted £8.5m of debt into equity, underlining the financial pressure facing King Power.
Lal’s consortium is reportedly made up of four wealthy businessmen, with each understood to be targeting a 25% stake. Meanwhile, details of the other interested groups remain limited, leaving Leicester’s takeover future unresolved.
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