Ranson makes £90m bid for former club
Tuesday, 24 April 2007 11:35Manchester City have received a £90million takeover bid from a British-based consortium headed by former player Ray Ranson.
Ranson, who previously failed in an attempt to buy Aston Villa, lodged his offer with the Eastlands outfit last night and is currently awaiting a response.
Although Stock Market rules prevent Ranson discussing his bid, it is thought any deal would result in a £20million transfer windfall for manager Stuart Pearce.
City chairman John Wardle has been in discussions with various parties over the sale of his 29% stake in the club, owned jointly with business partner David Makin, although so far there has been no sign of a deal being concluded.
An unnamed American consortium currently seem best placed to complete a buyout of Wardle's shares, but former Thai Prime Minister Thaksin Shinawatra was also linked with a possible bid.
However, the Ranson offer is the first concrete proposal to be put before Wardle and it is likely a board meeting will be convened at some point within the next 24 hours to discuss a formal response.
