Ranson makes new City bid
26 Apr 2007 - 08:37:52
Ray Ranson has submitted a revised bid for the takeover of Manchester City, after two previous offers were rebuffed by the board of the Premiership club.
A figure of around £90million had been suggested ahead of Ranson's first couple of offers, although the Citizens poured scorn on such figures.
A statement from the club read: "The board of Manchester City notes the announcement made by Ray Ranson on 24 April 2007 regarding his possible interest in making an offer for the company.
"The board can confirm that it received a highly conditional indicative proposal from Ray Ranson and his advisers on 12 March 2007.
"Ray Ranson's indicative proposals to date have contained a number of material conditions that the board does not believe can be fulfilled.
"Neither the purported '£90million bid' nor further proposals of any sort have been received by the company or its advisers from Ray Ranson."
However, one-time City defender Ranson has submitted a new bid, with a statement to the Stock Exchange confirming: "Ray Ranson can confirm that he has submitted a revised proposal to the board of the club with a view to making a possible offer for the club.
"Ray believes that this revised proposal addresses the club's stated concerns about conditionality.
"Ray would very much like to enter formal discussions with the board of the club to progress his proposal."
