Crisis Update - Leicester to go into administration

Despite great efforts to reach agreement with creditors it has been impossible to resolve the situation and this morning they have applied to go into administration.

PLC Chairman Greg Clarke said, "Whilst this is a severe set back for the club it does not mean the end of Leicester City."

Already a consortium led by former Leicester striker Gary Lineker is have shown interest. The consortium, backed by Clarke and the club, will be holding a press conference on Wednesday morning.

Clarke added, "The objective of the consortia will be to buy Leicester City as a going concern from the administrator and to back Micky Adams and the team in their quest for promotion."

Clarets Mad hopes that Leicester, and every other club in financial difficulties, can reach a satisfactory solution. We do not want to see any club go out of business during this difficult time for the game.

Greg Clarke has stressed the hope that Leicester fans will get behind the club's fundraising schemes and by backing the team.

The same must apply for the Clarets - let's make sure we get behind them as best we can in every way that we can.