Leicester City takeover race: Ex-board member shares what he's 'heard' about deal

Neil Lal effectively has "zero chance" of becoming the new owner of Leicester City in the coming months.

That is according to former Everton chief executive and ex-Premier League board member Keith Wyness, speaking exclusively to Football Insider, who believes that Lal's plan to buy the club is not "realistic."

This comes after the Scottish-Indian businessman recently revealed that he has made an offer to buy the Foxes, as their King Power ownership look to sell.

However, Wyness has revealed that there are three parties who are in the process of submitting bids for the East Midlands outfit, and he does not see Lal as a realistic owner.

Lal recently revealed that he intends to bypass the bankers involved in the sale of the club, and broker the deal directly with the Leicester board.

However, Wyness has raised genuine concerns about that approach, and feels that the other parties are more likely takeover candidates.

Neil Lal lacks football 'experience'

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 Lal's recent comments have shown a lack of "experience" in the football world.

The businessman recently laid out his plan for if he is successful in his pursuit of Leicester, and it has drawn plenty of scrutiny.

Speaking on the latest edition of Football Insider's Inside Track podcast, Wyness explained why he has concerns after Lal's comments.

"I would put it at about zero (chance of takeover). I'm afraid that when you start to bypass the bank that's in charge, you're not serious, in my point of view," he said.

"A lot of what he said, I'm afraid, I've got to discount as not being realistic and not experienced in football.

"I've heard there are three other groups involved, and I'm almost discounting him straight away. That's my point of view."

Leicester may be forced to settle for cut-price deal

Former Manchester City financial advisor Stefan Borson recently told Football Insider that he is doubtful as to whether Leicester will receive offers above the £200million mark for the club.

King Power have set a valuation of £222m for the entire portfolio, including the stadium and their state-of-the-art training ground.

However, Borson believes they may ultimately have to settle for a lower fee, due the grey area surrounding the club's current standing.

The football finance expert outlined that it is difficult to judge whether the Foxes should be valued as a Championship or League One club, and he expects that to cause issues during the takeover process.