Milan Mandaric has made a £25 million bid for Leicester City after admitting he has had to 'accelerate' his takeover plans. The former Portsmouth chairman has spent the last few weeks mulling over an offer for the Championship club. He has now lodged a formal bid for the club after confirming interest from other parties had spurred him into immediate action. "I feel I have made a fair and generous offer to acquire Leicester City Football Club from the present shareholders," Mandaric told the Leicester Mercury. "Under the circumstances, and following a very emotional departure from Portsmouth after nearly eight years of ownership, I have given serious thought to the offer, the timing and implications of such a bid. "In an ideal world I would have preferred to have delayed my return to football, but under the circumstances and following other interest in the club, I have had to accelerate my takeover plans. "My aim is to reawaken Leicester City and aspire to the dreams of their passionate supporters and bring Premiership football back to the club at the earliest opportunity." Leicester have acknowledged receipt of the offer and are now expected to take around a fortnight to consider Mandaric's bid. A club statement read: "We can confirm the club have received an offer and this will be given due consideration."
