Leicester City name Vichai Raksriaksorn as chairman

Chairman: Vichai Raksriaksorn in Foxes colours

Leicester City have named their new chairman, filling the vacant position left by Milan Mandaric in November.

Vichai Raksriaksorn, father of new vice-chair Aiyawatt, has invested heavily since he was introduced to the club by Mandaric, with the appointment of Sven Goran Eriksson as manager a key indication of the Thai investors' Premier League ambitions for the club.

"I have made a solid commitment to sacrifice more than half of my time from my main business of duty free," said Vichai in an interview with the club's official website, "Financially, we have also invested more than was first anticipated. Ultimately, this will yield substantial improvements in the working structure of the club, both on and off the field, some of which we have already seen as the core competitive aspects of the team have been strengthened in all areas."

The new chairman's message was echoed by his son and fellow investor.

"I feel certain that the new structure of the club emphasises the strength of Leicester City and will ultimately help to take the club forward," said Aiyawatt.

"What I am committing myself to might seem impossible to achieve from the perspective of others, but this dream began when we acquired Sven-Goran Eriksson as manager and signed players from the Premier League," added Vichai, "I am proud to say that we already have seven international football players with us, which is a fantastic achievement, with more to come I hope."