The new owners of Championship club Leicester City have passed the Football League’s examination of potential club owners.
Leicester City is the first club to complete the new procedure which has been designed to protect the interests of football supporters.
Leicester chairman Milan Mandaric shared his delight at the news saying: "Today is a great day in the history of Leicester City Football Club. When I first came to the Walkers Stadium, I said that whenever I decided to leave I would ensure that the club was left in a stronger and healthier position. Let there be no doubt that the club has reached that position now. Our owners are fantastic people, with incredible ambition for this club's future. They have great character and integrity and they will strive for success for Leicester City."
He added: "I am delighted that the owners have asked me to continue to serve the club as Chairman and I firmly believe that we have a bright future ahead. Our supporters will have seen the owners' desire for success, exemplified by the appointment of a world-class manager in Sven-Goran Eriksson, along with the signs of resurgence on the pitch."
New owners Aiyawatt Raksriaksorn and his father, Vichai, have worked hard over the past few months to make sure that they comply with the Football League’s new rules.
Speaking to the club's official site executive director, Aiyawatt Raksriaksorn said: "This is a very proud day for my family and for me personally. Leicester City is a special club and you, the supporters, deserve the best. We have the ambition and the aspiration to take your club back to where it belongs; the Premier League."
He added: "We are very pleased that Milan Mandaric will be staying on as Chairman and the staff at the stadium and training ground will offer great support as we all collectively attempt to achieve our objectives. There was never any doubt in our minds that we would officially become the club's owners, but we would like to take this opportunity to thank the Football League for their cooperation, and to also thank the Leicester City supporters for their patience throughout this period."
"It is up to us now to continue what Milan Mandaric has started and to take this great club forward."