Milan Mandaric insists that the time is right to leave Leicester City after agreeing to step down as chairman and take over at Sheffield Wednesday.Mandaric will end his time at the Foxes after Monday's game against Nottingham Forest, allowing Asia Football Investments to assume complete control.
The 72-year will take over as Owls chairman when the deal is ratified.
"Leicester is in tremendous condition on and off the field. They have great owners," he told BBC Radio Leicester.
Mandaric,
who is waiting for Wednesday shareholders to agree the takeover,
will head a three-man board at Hillsborough alongside acting chairman Howard Wilkinson and chief executive Nick Parker.
But Mandaric insists that he ensured the
new Thai owners
were completely ready to take control before he agreed to move on.
"They needed the transition and they are quite comfortable what they have now," Mandaric said.
"They are wonderful people. They love the club, love the people and are capable of supporting the club financially.
"It's time for me to step aside. I couldn't leave the club in a better shape and I am very proud of that.
Thanks Milan. No one can deny he has left us in a better place than when he took over
Paulsherwood-Total Football my rear end
"It is emotional but I am happy to leave them in the shape I am leaving them. I wish them all the best.
"The new owners are supportive and capable of giving the club financial support and can move them to the Premier League.
"They have a world-class manager in Sven-Goran Eriksson and a good squad."
Source: BBC Sport
Source: BBC Sport