Leicester not for sale - Mandaric

Mandaric is confident for the future of Leicester City

Leicester City chairman Milan Mandaric has insisted the club is not for sale, in a bid to fend off any investors looking for a bargain.

Fans have questioned whether the Foxes may be prone to a buy-out because of recent investments in other clubs.

But Mandaric told BBC Radio Leicester: "I haven't had any phone calls yet but we're not for sale anyway."

The Serbian is approaching his second anniversary as owner of the club after taking over in November 2006.

But Mandaric warned fans that there is bad news ahead when it comes to the Walkers Stadium finances.

"We're going to have huge losses because we have a big stadium, which is a tremendous asset when you're in the Premier League but a liability when you're in a lower division," he said.

He also had words of warning for those investing heavily in top-flight clubs.

"Football is not a normal business, it's an emotional business. While we all see who is spending money we need to run it as a business, but it is not," Mandaric said.

"As long as they're proper people and as long as they love the game and they're doing it for the good of the game, I see no problem."