Neil Lal's bid to buy Leicester City has been described as having 'zero chance' of success by a former Premier League chief executive. Keith Wyness, who ran Everton for five years, believes the Scottish-Indian businessman's approach is unrealistic and lacks football experience.
Wyness spoke out this week about the ongoing sale process initiated by King Power. He is concerned by Lal's stated intention to bypass the bankers handling the sale and negotiate directly with the Leicester board. "I would put it at about zero (chance of takeover)," Wyness said. "I'm afraid that when you start to bypass the bank that's in charge, you're not serious, in my point of view."
He added that much of what Lal has outlined should be discounted. "A lot of what he said, I'm afraid, I've got to discount as not being realistic and not experienced in football," Wyness stated. The former CEO, who now advises elite clubs, believes there are three other parties more likely to succeed in the takeover race.
Financial uncertainty is also clouding the process. Former Manchester City advisor Stefan Borson has suggested King Power's £222 million valuation for the club, stadium and training ground may be too high. He doubts offers will reach that mark, partly because it is unclear whether Leicester should be valued as a Championship or League One club. This ambiguity could force the current owners to accept a lower fee.
The Foxes currently sit 13th in League One with 8 points from six games, a position that complicates any sale valuation. Their recent form has been mixed, with two wins, one draw and two losses in the last five outings.
Their last match was a dramatic 4-3 victory away at Stockport County, a result that ended a run of two consecutive defeats. The team now prepares for a trip to face 18th-placed Barnsley this Saturday. The full schedule is available on our fixtures page. Managerial and playing staff changes are always possible during an ownership transition, and the squad list list can be viewed here.
With the club's immediate future on the pitch still taking shape in League One, the ownership situation adds another layer of complexity to the season ahead.
More detail at sports.yahoo.com
