Ranson confirms City bid

[Trina]

From skysports

Former Manchester City defender Ray Ranson has confirmed he has made an offer to purchase the Premiership club.

Ranson has, however, not yet received a positive response from Eastlands and is now pondering whether to table a new proposal to chairman John Wardle.

City have been keen to welcome new investment and reports on Tuesday morning claimed that Ranson had tabled a £90million bid for the club which could also result in £20million being released for the summer transfer window.

Ranson - who played for City in two different spells during the 1980s and early 1990s - previously tried to buy Aston Villa before Doug Ellis sold the club to American businessman Randy Lerner at the start of the season.

A statement to the Stock Exchange has confirmed that his latest bid for a Premiership club is being supported by a financial backer from the United Kingdom - the identity of which has been revealed to City.

"Ray Ranson can confirm that he is interested in buying the club and has, over the past couple of months, made indicative proposals to the club concerning a possible offer," the statement read. "Ray is yet to receive a positive response from the board to these indicative proposals and is currently considering making a further proposal to the board of the club.

"Ray recognises that the club is heavily indebted and his business plan is not dependent on leveraging the club further.

"Together, Ray and his partners have developed an operational plan for the club that is aimed at taking the club forward to the next level of its development, both on and off the field."

Ranson is believed to be ready to buy out all the club's major shareholders, pay back substantial loans to Wardle and his former business partner, and pay off other creditors to the value of £40million.

City have been keen to discuss investment with a number of potential suitors, with former Thai Prime Minister Thaksin Shinawatra linked with another possible takeover on Monday.

[Windass10]

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