Mandaric on verge of Leicester takeover
Milan Mandaric has admitted that he is finally on the verge of completing his much-anticipated takeover of Leicester.
The Coca-Cola Championship club have announced that a press conference will take place at the Walkers Stadium at noon on Tuesday and it is thought that Mandaric will be unveiled as the Foxes' new owner.
He told Sky Sports News: "Things are going forward and I'm hopeful that we'll be able to bring everything to a final conclusion but we're not there yet. There are a few legalities to be overcome but I hope they will be just formalities."
He added: "I don't like to talk about money, it's too premature to talk about that. I need some time to talk about other things. It's been a stressful process."
The former Portsmouth owner, who sold the club to Alexandre Gaydamak last year having already relinquished half his share to the Frenchman, is eager to get back into the game and has been in talks with Leicester for some time.
The takeover deal was expected to be agreed towards the end of January but was put on hold when the Serbia-born American businessman's mother fell ill.
He returned to his native Belgrade to be with the 86-year-old and his representatives released a statement which read: "Due to personal and unforeseen circumstances, Milan Mandaric's ongoing negotiations with LCFC have had to be put on temporary hold."
Mandaric, who helped Portsmouth to win promotion from the Championship and become a fixture in the top flight, had previously complained about the length of time it was taking to put the finishing touches to the agreement.
His arrival at the Walkers Stadium had already stalled once after a period of due diligence was thought to have revealed the club to have greater debts than Mandaric first thought.
But that did not dim his interest and prior to his family emergency he had claimed that the length of time it was taking to assume control was "ridiculous" and that the club had missed out on a handful of January transfer targets because of the delay.
