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Milan Mandarić: Former Portsmouth, Leicester, and Sheffield Wednesday Owner Dies Aged 87 Milan Mandarić, the Serbian-American businessman whose dynamic ownership defined a transformative era for several major English football clubs, has died at the age of 87 following a short illness. Mr Mandarić, often nicknamed 'football's Mr Fixit', passed away in a hospital in the Serbian capital of Belgrade on Saturday, according to a statement released by his family. His death marks the end of a long and colourful association with the sport, spanning over five decades and three continents, but which is most prominently remembered in England for his influential tenures at Portsmouth, Leicester City, and Sheffield Wednesday. The entrepreneur was renowned for his hands-on approach, combining a formidable business acumen—honed during his time pioneering Silicon Valley technology firms—with an intense, visible passion for the clubs he owned. His strategy frequently revolved around taking over financially distressed clubs, stabilising them, achieving promotion, and then selling them on, leaving a lasting, if sometimes volatile, legacy with supporters. Tributes Paid Across English Football Tributes have poured in from the clubs Mr Mandarić led, recognising his crucial role in steering them through challenging financial periods. A statement from his family confirmed the news, requesting privacy while noting that his "love for football was only surpassed by that for his family. " The English Football League (EFL) extended its deepest condolences, highlighting his impact. “The EFL is deeply saddened to learn of the passing of Milan Mandarić, the former Portsmouth, Leicester City and Sheffield Wednesday chairman who played a major role in English football for more than two decades,” an EFL spokesperson stated. Portsmouth, the club where his English journey began, expressed their deep sense of loss. Mr Mandarić took control of the struggling South Coast side in 1999, ultimately guiding them to the Premier League in 2003. In recognition of this achievement, he was granted the Freedom of the City of Portsmouth.
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“Everyone at Leicester City was saddened to learn of the death of our former owner,” said the club’s acting Chief Executive, Aiyawatt Srivaddhanaprabha. He added that Mr Mandarić “was a true football man, whose infectious passion and enthusiasm for the game left a lasting impression on every club he served. He cared for Leicester City and helped to steer the Club through a challenging period in our history. ” Sheffield Wednesday, which Mr Mandarić acquired for a nominal fee of £1 alongside an agreement to settle significant outstanding debts, noted that he had “rescued the Owls from a period of distress” and that his tenure had “beamed new light into Hillsborough. ” From Eastern Europe to Silicon Valley Before his arrival in English football, Milan Mandarić’s life was an extraordinary rags-to-riches story rooted in the post-war Balkans and the American technology boom. Born in 1938 in what was then the Kingdom of Yugoslavia, he grew his father’s machine shop in Novi Sad into one of the largest engineering firms in the country by the age of 26. However, his entrepreneurial success brought him into conflict with Marshal Tito's communist regime. Fearful of persecution, Mandarić left the country in 1969, relocating initially to Switzerland before settling in the United States and gaining American citizenship. It was in California that he found his true wealth, becoming a key figure in the nascent Silicon Valley. He founded Lika Corporation, a major computer component manufacturer, and later co-founded Sanmina, which became a global electronics manufacturing services provider. This business success provided the capital and profile that would later allow him to indulge his lifelong passion for football. His early ventures included owning the San Jose Earthquakes in the North American Soccer League (NASL), followed by ownership roles in Europe at Belgian club R.
Charleroi S. C. and French side OGC Nice. A Career Defined by Rescues and Revivals Mr Mandarić’s arrival in English football established a pattern that would become his trademark. He purchased Portsmouth when the club was close to bankruptcy, invested significantly in infrastructure and players, notably hiring manager Harry Redknapp, and oversaw their promotion to the top flight. After selling his stake in Portsmouth in 2006, Mandarić quickly moved on to Leicester City in 2007. Despite the club's subsequent relegation to League One, he maintained his focus, resulting in the team winning the League One title in the 2008-09 season, securing their immediate return to the Championship. He sold the club to the Thai consortium led by Vichai Srivaddhanaprabha in 2010. His final major acquisition came later that year when he purchased Sheffield Wednesday, who were struggling financially in League One. His tenure was viewed as a period of essential financial stabilisation, culminating in the club achieving promotion back to the Championship in 2012 on the final day of the season. Acquittal in High-Profile Tax Case Mr Mandarić’s time in English football was not without moments of significant controversy. Most notable was his involvement in a high-profile corruption saga alongside former Portsmouth manager Harry Redknapp.
The two men were charged with tax evasion relating to a payment made via a Monaco bank account. Following a two-week trial at Southwark Crown Court in 2012, both Mandarić and Redknapp were found not guilty. Giving evidence during the trial, Mandarić movingly recounted his difficult childhood in the former Yugoslavia and his success in the US, stressing that he was not a man who would knowingly evade tax. The acquittal brought to an end an investigation that had cast a long shadow over the end of his chairmanship at Portsmouth. Enduring Legacy Mr Mandarić stepped back from English club ownership in 2015 when he sold Sheffield Wednesday to Thai businessman Dejphon Chansiri. In his final years, he maintained his connection to the game in his home country, serving most recently as the vice-president of Serbian Superliga side FK Vojvodina, based in Novi Sad, the city where he grew up. Football finance analyst Dr. Ken Jones reflected on Mandarić’s unique role in the game, telling the BBC: "He was part of an early wave of international owners in the early 2000s, but unlike some others, his focus was always less on prestige and more on the structural turnaround. He was a genuine hands-on operator who understood that football clubs are essentially local businesses first. His ability to rescue three major clubs and lead them to promotion underlines a rare, successful blueprint for club ownership during a highly turbulent period for the lower leagues. " Milan Mandarić’s legacy is defined by ambition, resilience, and a consistent ability to find opportunity in the face of financial chaos. His numerous sales were financially profitable, yet his greater influence remains etched in the history of three English clubs whose survival and subsequent revivals he profoundly shaped.
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