Former Portsmouth Owner Milan Mandaric Dies at 87

When Milan Mandaric, a Serbian‑American businessman passed away on October 4, 2025, the English football world collectively drew a sigh. He died in a Belgrade hospital after a brief illness, leaving behind two daughters, three grandchildren, and a legacy that still echoes in the stands of Fratton Park, the King Power Stadium, and Hillsborough.

The announcement came via an official statement on the Portsmouth Football Club website. "The family of Milan Mandaric are deeply saddened to announce his passing... his love for football was only surpassed by that for his family," the note read, and it asked fans and media alike to respect the family’s privacy during this difficult time.

Early Life and the Road to Football

Born in 1938 in a town that is now part of Croatia, Mandaric emigrated to the United States in the 1960s, where he built a multi‑million‑dollar empire in chemicals and construction. By the late 1990s he had the cash and the appetite to test a new arena: English football. The pattern he would follow—buy a club in trouble, inject capital, and aim for promotion—became a blueprint for foreign owners in the Premier League era.

Portsmouth Revival (1999‑2006)

In March 1999, Portsmouth Football Club slipped into administration. The south‑coast club was on the brink of liquidation, and its supporters faced the grim prospect of watching their beloved Fratton Park fall silent. Mandaric stepped in, purchasing the club for a reported £5 million and immediately staving off bankruptcy.

Mandaric’s next move was to appoint Harry Redknapp as manager. The duo forged a partnership that would see Portsmouth win the First Division title in the 2002‑03 season and earn promotion to the Premier League. "Milan gave us the belief that we could be a top‑flight club again," recalled Redknapp in a 2023 interview. It wasn’t just the football. Mandaric financed a stadium upgrade, improved training facilities, and emphasized community outreach—steps that cemented his reputation as a hands‑on owner.

After a seven‑year tenure, Mandaric sold Portsmouth in 2006 for an estimated £30 million. The club’s later financial woes would lead to another administration, but the period under his stewardship remains a golden chapter for Pompey fans.

Leicester City Chapter (2007‑2010)

Only a year after leaving Portsmouth, Mandaric set his sights north, acquiring Leicester City Football Club. The Foxes were languishing in League One, and the new owner promised a swift return to the Championship. True to form, he appointed Nigel Pearson, who guided Leicester to the League One title in the 2008‑09 season.

Mandaric’s investment in player recruitment and stadium improvements laid groundwork that his successor, Thai magnate Vichai Srivaddhanaprabha, would later build upon. Vichai bought the club in 2010, and twelve years later Leicester shocked the world by winning the Premier League in 2022. While Mandaric was not at the helm then, many insiders credit his early capital injections as a catalyst for that miracle.

Sheffield Wednesday Tenure (2010‑2015)

Mandaric’s next stop was Sheffield Wednesday Football Club. He purchased the Hillsborough side in 2010 for around £10 million, promising financial stability after a turbulent decade. During his five‑year ownership, Wednesday hovered between the Championship and League One, never quite achieving promotion but remaining competitive.

Fans noted that Mandaric funded upgrades to the academy, seeking to nurture home‑grown talent. Though his exit in 2015 was met with mixed feelings—some felt he never fully realized his vision for the club—his willingness to invest in infrastructure earned him respect among the Owls’ faithful.

Reactions Across the Game

Statements poured in from all corners of English football. "Milan’s passion for the game was contagious," said David Unsworth, former Portsmouth director. Leicester’s chief executive, Claudia Rodriguez, added, "His early belief in the Foxes gave us a platform that we could eventually turn into something historic."

The English Football League released a tribute highlighting Mandaric’s role in the “internationalisation of club ownership,” noting that his business‑savvy approach helped usher in a new era where foreign investors could bring both capital and ambition to the English game.

Legacy: More Than Money

Mandaric’s story is often reduced to balance‑sheet figures, but the real legacy lies in how he reshaped club cultures. In Portsmouth, he turned a near‑death experience into a community rallying point; in Leicester, he set the stage for a fairy‑tale triumph; in Sheffield Wednesday, he showed that investment in youth can coexist with senior‑team ambitions.

His approach—high‑risk, high‑reward, and always personal—paved the way for later owners like Saudi Arabia’s Public Investment Fund and the American consortium at Newcastle United. The lesson many cite is simple: without an owner who truly cares, money alone won’t lift a club.

What Comes Next?

Mandaric’s family has asked for privacy, but the clubs he touched have already begun planning memorials. Portsmouth announced a minute’s silence before its next home game, Leicester will feature a black armband on the players’ sleeves, and Sheffield Wednesday is commissioning a plaque at Hillsborough.

For the broader football community, his death prompts reflection on the evolving nature of club ownership. As more billionaire investors eye English clubs, the question becomes: can they match Mandaric’s blend of financial muscle and genuine passion?