Lineker: We can save City

Leicester lad: Gary Lineker reveals his plans at a press conference

13 April 2012

Gary Lineker is confident the consortium he is leading can stop Leicester City going out of business.

The BBC presenter and former Leicester hero has been drafted in as the figurehead of a five-man rescue team fighting to save the troubled First Division club.

Lineker, who has pledged a "small six-figure sum", stepped in after talks with his agent Jon Holmes and Leicester City PLC chairman Greg Clarke. They have been joined by current chairman Martin George and CarPhone Warehouse owner David Ross and have all donated "six-figure" sums to raise an initial £1.7million.

A further £5.3m needs to be raised in the next two weeks and Lineker will be working to attract more investment to satisfy administrators Deloitte & Touche. Lineker insists he does not want an executive role at the club and has no ambition to be chairman.

But the former England striker said: "I didn't want to sit by and let a club the size of Leicester go to the wall. So we have got together to do something about it.

"I'm only in this to put a few quid in and secure the club's future. I'm not the world's wealthiest man and I couldn't buy the club on my own.

"This is not about one person's ego and I will not be on the board.

"We have some money pledged and we are looking for more.

"There are bigger investors than me. We are not looking at this as an investment. It is more of a charitable donation.

"They key thing is to secure the progress of the club.

"We have a terrific young manager, Micky Adams, who has done very well under difficult circumstances. We want to help him."

Leicester were placed into administration this week with debts of £9m.

They also have a £28m mortgage which was taken out to pay for their new £32m Walkers Stadium.

The cash crisis forced the club to ask their players to take a 15 per cent pay cut. Today, Leicester made a quarter of their non-playing staff redundant.

Bids to take over the club will be made to the administrators during the next fortnight and Lineker's consortium should know by the end of the year if it has been successful.

MORE ABOUT

BBC

Leicester

Leicestershire

Lineker: We can save City

Read More