Embargo stays on Foxes

Micky Adams is adopting a siege mentality

Leicester City ave been dealt a blow by the Football League's refusal to lift the club's transfer embargo.

City were expected to resume loan deals after coming out of administration on the back of the New Fox consortium's successful buy-out.

But League bosses stunned the First Division high-flyers by insisting the block on signing new players remain until further financial assurances are made.

All of a sudden they put another obstacle in the way

Leicester boss Micky Adams

Seething Foxes' boss Micky Adams said: "It's just another kick in the teeth for Leicester City, Micky Adams and the two players who were going to come in to the club.

"The last third of the season is notoriously a very, very nervous period.

"Nerves will fray but what we will do is adopt a siege mentality.

Despite his bullish stance, Adams admitted he felt let down by the Football League's refusal to budge.

"I think we are all disappointed at Leicester City, not least Jon Holmes, the new chairman," Adams told the club's official website.

Background from BBC Leicester

"We were led to believe that if they came up with some sort of financial statement regarding the future of the club between now and the end of the season then we would be able to bring loan players in.

"We overcame that obstacle and proved that we could, and all of a sudden they put another obstacle in the way."

The Football League claim Leicester's ban would only be lifted the club had provided "cash-flow projections that demonstrate the long-term sustainability of the club's business plan".

Foxes chief executive Tim Davies called the League's statement "misleading" and claimed all cash-flow projections and business plans had already been provided.

A club spokesman added: "We are bitterly disappointed by the League's decision.

"We will continue to do everything to get this decision overturned."

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