Clifford Chance finance partner James Johnson stands to receive a windfall payment after Leicester City FC confirmed that its shareholders had agreed to sell the club to former Portsmouth owner Milan Mandaric for £25m.
Johnson, a staunch Leicester fan who was on the board of the club until earlier this year, is understood to own 175,000 of the club’s 6.4 million shares, just under 3%. Johnson stood down from the board in January because he could not support a recommendation to shareholders that they accept the bid.
