Wragge & Co has advised longstanding client Leicester City FC on the sale of a majority stake in the football club to former Portsmouth FC chairman Milan Mandaric for around £9m.

A Wragges team led by corporate partner Andrew Smith advised the Championship club on the sale, which saw Mandaric's US-based company UK Football Investments acquire around 75% of the Midlands outfit.

Smith was assisted on the deal by corporate associates Natalie Mudd, Andrew Glaze, real estate partner Phil Clissitt and senior employment solicitor Kelly Chapman. Southeast firm Thomas Eggar is advising Mandaric and UK Football Investments.