New Leicester City takeover timeline update revealed

Leicester City are giving prospective buyers until September 14 to make offers for the club after they were put up for sale.

Leicester City have set a deadline of September 14 for prospective buyers to make a bid to buy the League One club.

It has been a dismal few years for the Foxes, who have just started the season in League One after successive relegations, which is a remarkable fall from grace considering they won the Premier League ten years ago.

That, understandably, resulted in plenty of scrutiny from the fans towards the owner, Khun Top, who has received criticism for the way the club has operated, and the figures he has trusted in that period.

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Leicester City takeover latest as timeline shared

Obviously, Leicester’s recent struggles have had a major impact on the financial situation at the club.

So, it didn’t come as a huge surprise when it was announced back in August that the Foxes had been put up for sale, with Khun Top seeking around £200m for the Midlands outfit.

It remains to be seen whether that is a realistic price tag for a club playing in the third tier, but it appears that the Leicester chief is hoping for a swift resolution.

That’s after Ben Jacobs claimed that Khun Top has set a deadline for prospective bidders, which is less than three weeks ago, as he confirmed there is one interested party.

“Prospective Leicester City bidders have been given until Monday 14 September to make offers. Club priced at over £200m. Valuation does not factor in inherited debt. Neil Lal-led consortium one group in talks.”

Leicester City would benefit from swift takeover outcome

This is a positive development for Leicester in the sense that they will want any takeover sorted as soon as possible.

Of course, we know that these things aren’t straightforward, and it’s unclear what will happen if serious offers don’t arrive by the deadline, but it’s good that Khun Top is seeking a quick exit.

It seems apparent that Leicester need a change in ownership if they are to progress, and whilst the family will always be appreciated for what they have done for the club, and the city, now does seem like the right time for them to leave.

The £200m valuation is steep for a League One club, but Leicester have a fantastic stadium and incredible training facility, and there is a belief that they will win promotion back to the Championship this season.

Russell Martin won’t want takeover talk to distract Leicester City

Following on from that, Russell Martin will also be hoping for a quick outcome, as he will be aware that constant speculation isn’t going to help anyone at the club.

So, if it is sorted quickly, there can be a focus on football, and even though it’s not going to change anything in the current transfer window, it could impact Leicester’s plans in January.

But, the boss shouldn’t use anything as an excuse, as he still has enough talent in the Leicester squad to ensure they are competing for automatic promotion this season.

It has been a tough start for Martin’s men, though, as they’ve picked up just one point from their opening two games ahead of their trip to MK Dons on Saturday.