Lineker group submits bid

Lineker might consider Leicester a snip at around £5m

The consortium led by former England striker Gary Lineker has submitted its bid to Leicester City's administrators to take control of the club.

The deadline for bids was five o'clock on Friday, 29 November.

But a group headed by Gilbert Kinch and Roy Parker are still putting together their proposal and, still expect their bid to be accepted despite missing the cut-off point.

Leicester's shares were withdrawn from the stock market on Monday.

Leicester's shares cancelled

No details of the size of the Lineker consortium's bid have been revealed, but it is believed they are willing to pay £4m immediately and a further £1m in August.

Leicester are currently well placed to bounce straight back into the Premiership following their relegation from the top flight at the end of last season.

But if the Foxes fail to win promotion, they are likely to need another cash injection.

Leicester went into administration at the end of October with debts of about £30m.

The club's players agreed to defer part of their wages to meet a required 20% cut in the wage bill.

Lineker close to Foxes offer