Leicester City applies for administration

Gary Lineker has said he will do all he can to help his former club, cash-strapped Leicester, but does not want to hold a place on the board.

Leicester City Football Club has applied to the High Court to go into administration on Monday, after creditors refused to accept a rescue package.

In a club statement the directors said they believe that administration should give the Club sufficient protection, to enable the restructuring which they have endeavoured to conclude over the last three months, to be completed.

Lineker has agreed to head a consortium in an attempt to take control of the club. Lineker will be joined by club chair Malcolm George, plc chair Greg Clarke, Jon Holmes, the business manager of SFX and David Ross, the chief operating officer of the Carphone Warehouse. Plans will be announced at a meeting on Wednesday 23 October.