Milan Mandaric's purchase of Leicester City has been confirmed in a press release issued by Mandaric today.

The press release in full... 

"It is an honour and a privilege that the shareholders have accepted my offer to take control of Leicester City Football Club.

I would like to extend my wholehearted thanks to the shareholders for their immense trust and support as we now embark on a new era in the life of the club.

It goes without saying that I have untold respect for the former custodians of this club who stepped in at time when it's very future hung in the balance.


I am under no illusions that this is a massive challenge and my primary aim is to take a club that has immensely underachieved in recent years back to its rightful place in top-flight football.

I will apply immense experience, enthusiasm and financial support to ensure we achieve our goals but it's important to point out that success will only be achieved if unity prevails throughout the club.

Following my emotional departure from Portsmouth last year I had no desire to make an immediate return to football. But when this opportunity arose it proved extremely difficult to ignore.

At times this has proved to be a long and frustrating process but the incredible and overwhelming support from the club's fans gave me the energy to see this through to a conclusion.

The hard work begins now though with the immediate short-term priority to preserve our Championship status and once that is achieved we can build towards future success.

Remember 24 teams harbour the same dreams as us and only three will meet with success.

And I can assure you that if I don't take this club up in a three year period I will view that as failure and that is a word that nobody associates with me."