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 Posted by ESPN Staff
Jan 22, 2007

Mandaric fumes at takeover delays at Leicester

Milan Mandaric has blasted the 'ridiculous' delays halting his takeover of Leicester after revealing they have caused the Championship club to miss out on three transfer targets.

The former Portsmouth owner, who made his official bid for the Foxes on November 1, had hoped the takeover would be finalised by the end of last week.

That was still later than expected after the due diligence procedure unearthed considerable extra debts at the Walkers Stadium.

Mandaric made a revised offer based on those findings but the club's shareholders have still to veto the takeover.

The transfer window closes next week and Mandaric is becoming increasingly frustrated that discussions continue to eat into the time he has to strengthen the City squad.

'It is becoming a bit ridiculous now. In fact, I have lost three transfer targets I had an eye on who might have made a difference,' he said.

'January is going by and when I look at what needs to be done it is very frustrating. It has taken four months already. I could have bought London Bridge in that time.'

However, the Serbian-born American remains hopeful the final details can be ironed out in time for him to help manager Rob Kelly make some new signings.

'Time is running out and I am worried there will not be enough of it left to do what we would want to do,' He told the Leicester Mercury.

'But let's be patient. It is still in the hands of the lawyers and I don't want to point the finger at anyone.

'There are still a few things to be done over the next couple of days and I am optimistic it will finally all be over.'

Leicester share Mandaric's optimism and chairman Andrew Taylor confirmed, 'We have had all the information we require. There are just a couple of small, inconsequential issues to be sorted out.

'I felt that suggesting last week as the end of it was a bit unrealistic but we are very close now and the next few days should see the end of the process.'