Leicester shares suspended

Foxes boss Adams fears he may have to sell players

Shares in Leicester City have been suspended on the stock market.

The club's plc said it had taken the decision ahead of a meeting of directors on Thursday.

Leicester have been told to pay a £1.5m Inland Revenue bill by the end of the week.

Earlier, the Foxes announced they had asked their players to take a pay cut.

The Midlands club are heavily in debt and have followed Watford and Huddersfield in seeking help from their players.

Leicester are trying to achieve a 20% pay cut over this season and have already met most of their players to discuss the move.

Watford players agree pay cut

Former Leicester and England star Gary Lineker told BBC Radio Five Live he was confident Leicester would come through the crisis.

He said: "It is a bit unnerving but I am fairly confident Leicester will be all right."

Foxes chief executive Steve Kind told the club's website: "Discussions will continue with the professional playing squad over the next few days."

Football League clubs are suffering financial troubles after the collapse of the ITV Digital deal with Barnsley recently going into administration.

The PFA have been instrumental in this all coming about

Huddersfield chairman David Taylor

Huddersfield could receive help in relieving their financial problems in the form of a mystery backer.

The club have asked some of their players to take a pay cut to ease their plight and the club's board are to meet with the anonymous benefactor.

Terriers in pay cut plea

"The board have been approached by someone and that's about as far as it's gone at the moment," said a club spokesman.

"They know who the person is and I'm sure the board will meet with him at some stage soon."

Meanwhile, Terriers chairman David Taylor says the PFA are partly to blame for the game's current financial difficulties.

PFA boss Gordon Taylor argued that players were being "bullied, threatened and harassed" into accepting new terms and that if all contracts were not honoured in full it would make a mockery of the game.

In hard times you live within your means, therefore you cut the workforce or ask them to take a cut in wages

Huddersfield chairman David Taylor

But Town chairman David Taylor countered: "The PFA have been instrumental in this all coming about anyway with players able to obtain unbelievable contracts during the good times.

"But this is the real world. If football was run like a proper business the squad would be chopped by half because you would not be able to pay them.

"In hard times you live within your means, therefore you cut the workforce or ask them to take a cut in wages.

League agrees highlights deal

"Some of the contracts handed out not too long ago are ridiculous. These players are paid far too much.

"In business, when your income is substantially less than your outgoings, costs have to be cut and, as for the PFA, well they were in the ludicrous situation recently where they bailed out [Benito] Carbone's contract.

"They forked out a huge amount of money for Carbone to get him off to Italy. They would have been better off subsidising the players' wages at Exeter or Torquay."