Foxes' financial fight gathers pace

Leicester today revealed they are “at an advanced stage” in negotiations with creditors and the Professional Footballers’ Association as the club‘s plc board look to avoid being placed into administration.

The Foxes want to cut their wage bill by 20% to combat debt which has increased following their relegation to the Football League and the collapse of ITV Digital, and had been expected to make an announcement on whether the pay cut had met with the approval of all parties today.