According to reports from the BBC late last night, the Gary Lineker-led consortium has beaten the deadline to raise the money required to take Leicester City out of administration.

The chairman of New Fox plc, John Holmes, spoke to the BBC saying that everything ws now in place for the consortium to take over the club.

"The potential investors had to follow up their pledges with cash and cheques by this afternoon's (Tuesday) deadline and that we have accomplished," said Holmes.

"We have exceeded the minimum required, so we are in position to proceed with the purchase."

Holmes added that there one or two minor issues to be cleared up over the takeover but he was confident they would be resolved over the next few days.

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