Lineker unveils Leicester rescue bid

Lineker wants to unite the county behind the club

Gary Lineker has revealed his plans to save cash-strapped Leicester City.

The former player said he was one of "a number of people" involved in a consortium bidding to salvage the club, which went into administration on Tuesday.

I see it as more of a donation rather than an investment

Gary Lineker

Lineker said he, along with his fellow consortium members, would be investing a six-figure sum but that he would not become a member of the board.

"We can't see a club like Leicester City in a town as big as this go to the wall," the BBC Sport television presenter told a news conference at the club's new Walkers Stadium.

Why it was time to step in
Gary Lineker on helping out at Leicester

"That is why a number of us have pledged some money and we are still looking for people.

"We want to unite the people of Leicestershire behind the club.

"I see it as more of a donation rather than an investment," the former England captain added.

The takeover plan
• The consortium fronted by Lineker has already raised £1.7m of the £5m needed to buy the club.
  
• The consortium is meeting with representatives of Leicester fan groups to try and unearth further investment.
  
• Should the rescue bid succeed, the consortium will install a new board.
  
• Lineker's consortium fully backs manager Micky Adams and has no plans to sell players.

The Foxes have been hit by financial trouble since their relegation from the Premiership at the end of last season.

Redundancies

Last week, the players agreed a wage deferment package to ease the financial plight of the club, which is believed to have debts of £30m.

On Tuesday, the High Court appointed administrators Deloitte and Touche to take over the running of the Leicester.

And the club announced on Wednesday it was making up to 30 of its non-playing staff redundant, including chief executive Steve Kind and director of operations Charles Rayner.