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By ESPN Staff

Leicester confirm initial talks concerning takeover

Leicester chief executive Tim Davies has confirmed the club are in 'the very early stages' of discussions which may lead to a possible takeover deal.

Former Portsmouth chairman Milan Mandaric has already confirmed he has submitted a £25million bid to take control of the Coca-Cola Championship club.

An extraordinary general meeting is due to take place at the Walkers Stadium on Saturday, when the club's 48 shareholders will decide which bid they believe is the most suitable to take the club forward.

The club said in a statement: 'Following recent press speculation, the board announces that it is currently in very early stage discussions which may or may not lead to an offer being made for the company.'