Thai businessman snaps up Leicester

Leicester have been bought by a consortium led by Thai businessman Aiyawatt Raksriaksorn.

Financial details of the deal have not been disclosed but current chairman Milan Mandaric will retain his position at the npower Championship club and is a stakeholder in the Asia Football Investments consortium.

Raksriaksorn owns Thailand-based duty-free shopping business King Power Group, which last week secured a three-year shirt sponsorship deal with Leicester.

The last Thai venture into English football ended in acrimony when former Prime Minister Thaksin Shinawatra, ousted in a 2006 coup and still living in exile, bought Manchester City and sold the club a year later.