Ranson confirms City bid
24 Apr 2007 - 17:46:54
Former Manchester City defender Ray Ranson has confirmed he has made an offer to purchase the Premiership club.
Ranson, who played for City during two separate spells in the 1980s and 90s, has confirmed his bid is being supported by a financial backer from the United Kingdom, but he is yet to receive a positive response from the Eastlands board.
The identity of mystery financial backer has been revealed to the club's hierarchy but, in a statement to the Stock Exchange, Ranson has revealed he is mulling over a further proposal to chairman John Wardle
Ranson is believed to be ready to buy out all the Citizens' major shareholders, pay back outstanding loans to Wardle and other creditors to the value of £40million in an overall reported £90million bid for the club.
The Merseyside-born former Birmingham City, Reading and Newcastle player was denied in his efforts to buy into Aston Villa before Randy Lerner bought out the Villa Park club earlier this year.
Former Thailand prime minister, Thaksin Shinawatra, has also been linked with a potential bid for City in the last few days.