King Power could accept £100m Leicester takeover offer: ‘It’ll be done’
Leicester City’s takeover is likely to be completed by a group away from the “glare” of the media if a deal is to be done.
That is according to former Everton chief executive Keith Wyness, speaking exclusively to Football Insider, who believes that prospective buyers like Neil Lal and Turki Alalshikh are unlikely to come to fruition.
The pair have both been heavily linked with a takeover in recent weeks, with King Power holding out for £222million in order to sanction a sale.
However, Wyness is adamant that their current valuation is at “pie in the sky” level, and feels that no “serious” investors will be prepared to pay that much for the Foxes in League One.
There are several parties who are currently in the frame and could potentially strike a deal, but it may require King Power to take a hit on their investment.
The East Midlands outfit are lacking harmony at the moment, with manager Russell Martin already under huge pressure from supporters after a mixed start to the season.
‘King Power should accept £100m deal’
Everton’s former chief Wyness – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – believes that King Power must be prepared to settle for significantly less than their “ridiculous” valuation.
The Scottish businessman feels that a £100m offer could ultimately tempt the owners, rather than continuing with the hassle of trying to get their valuation met in full.
Speaking on the latest edition of Football Insider’s Inside Track podcast, Wyness urged the Foxes hierarchy to “weed out” those who aren’t serious about a takeover as quickly as possible.
“We all know the facilities are great, the price they're asking is ridiculous for where they are, but if there are serious groups then a deal would be getting done quietly behind the scenes,” he said.
“It wouldn't be done through the media, and if there is a serious group bidding at the right price, I think that the present owners will accept it. Anything around £100m would be the valuation to me, I'm afraid, even though the real estate they would claim is worth more.
“I'm afraid at League One level and the start they've had to the season, you've got to be thinking that the £222m is a bit of a pie in the sky.
“So look if it's a serious group and they can come to a proper valuation, it will all be done out of the glare of the media. I've had many experiences of guys coming in who want the reflected glory of football, and you've got to be very careful and weed them out as soon as you can.”
Turki Alalshikh to get EFL approval ‘pretty quickly’
Wyness also told Football Insider on Sunday that Alalshikh would get the necessary approval from both the EFL and the independent football regulator “pretty quickly.”
The Saudi billionaire has been sounded out by the Foxes, despite pulling out in the final stages of a deal to buy Derby County in the summer.
However, Wyness is in no doubt that Leicester fans should “worry” about the prospect of Alalshikh leading their club, as he believes his “volatile” nature could provide a recipe for disaster.
Alalshikh blamed his failed Derby takeover on the time that the regulator took to approve the deal, despite only 55 of the allocated 90 days being needed for approval to be granted.