Sir Dave Richards is set for a surprise return to club football as the new chairman of Leicester City.Richards has been approached for the position by the Championship club's Thai owners and is expected to officially start his new role next month, following his departure from the Premier League after 14 eventful years.
The controversial Yorkshireman, 70, was recently succeeded as the Premier League's chairman by Anthony Fry but is now poised to become a high-profile appointment in a major boardroom restructure at the King Power Stadium.
Richards, a former Sheffield Wednesday chairman, will replace Vichai Srivaddhanaprabha and Terry Robinson is to join as director of football after leaving Stoke City's Academy.
Nigel Pearson, the manager, is understood to have been told his job is safe despite the drastic changes and he will work closely alongside Robinson.
Leicester are believed to have made the appointments as part of their determination to adhere with Financial Fair Play regulations, while Robinson has been charged with the task of jettisoning a number of high earners signed by former manager Sven Goran Eriksson.
WELL WELL WELL!!!
posted on 18/6/13
I take a different view.
To me, it makes perfect business sense to bring in experience at a time where an intimate knowledge of the game is crucial.
Not sure why this means the Thai's could be viewing the exit. That would mean significant financial losses they will never recoup and for us, almost certain administration.
posted on 18/6/13
Prawn when you have lost a lot of money you don't make it worse by dumping more cash you cut your loses and yes that would mean administration unless they find a buyer to full fund the sale.
posted on 18/6/13
I honestly don't think the owners would simply dump us, I don't get the feeling they are like that. I think they would sell us, probably at a loss, to another businessman from abroad who wants to have a club in the Premier League. Unfortunately, his or hers spending ability would be severely dented by the FFP rules. Ultimately, our ability to spend money is no longer solely based on our owners' wallets, but our own income which simply isn't high enough to significantly bolster the squad, outside of the Premier League.
posted on 18/6/13
Again Foxy its not a question f dumping us its just running out of money. They have been searching for a a buyer/investor all last season.
At some point the cash will run out and all the players siting on fat wages will not help us.
posted on 18/6/13
The other way to look at this is Dave Richards will know every loophole in the book should the owners want to "massage" our figures to hit FFP?
It would mean that they can continue to find was of giving us a financial advantage?
Not sure how Pearson will take to a DOF though - could go either way that one.
posted on 19/6/13
"They have been searching for a a buyer/investor all last season."
Is that an actual fact based on gained knowledge or just guesswork and a made up rumor?
posted on 19/6/13
Didn't you know, the reason NP is still manager is because he is leading a consortium to buy LCFC.
posted on 19/6/13
Perhaps this is a pragmatic move to get an experienced football Chairman in place, and a DOF to help move on the deadwood? As such being more of a medium term strategy rather than a precursor to leaving.
I don't see that buying the stadium fits in with the about to go scenario. Or the huge loss the owners would probably incur (to avoid this they would have to find someone to buy them out at a ballpark cost of, say, £80-100M?).
The best opportunity to get their money back is if we get promoted to the promised land.
posted on 19/6/13
Fact is a big word round here i have it corroborated by two sources and you don't need to be Einstein to do the maths either.
They need someone to purchase a part or all of the club to meet the FP figures or find out that vardy's worth £30m
posted on 21/6/13
"Not sure how Pearson will take to a DOF though - could go either way that one. "
Badly I'm sure if he gets told what to do for a change