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The club competing in the Championship division in England has a new owner. It is the 68-year-old Serbian-born businessman Milan Mandarić, who previously owned the Portsmouth club. Although the official purchase amount is not disclosed, it is believed that Mandarić could have paid around 40 million euros for Leicester.
Milan Mandarić, who has been negotiating since autumn, promised to lead the team to the Premier League in three years. Having won 3 Football League trophies in its history, Leicester last played in the highest division in England in 2004. Last season, the club finished only 16th in the Championship division.
"Our future plans include promotion. First, we must find stability and stay in this division. There are 24 teams here, and each one dreams of entering the Premier League. But only three teams make it there. We must be among those three. In the next three years, by 2010, if we are lucky, we will be there," said the new owner of the team currently occupying 17th place in the Championship division.
Mandarić also promised to keep Rob Kelly in the position of the team's head coach and provide him with full support, although he admitted negotiating with former Charlton manager Iain Dowie.
Since 1998, the Serbian has owned another English club, Portsmouth, but last year he sold a controlling stake to Alexandre Gaydamak.
