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Ranson out of Manchester City talkes
England - 01 June, 2007
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Ray Ranson is out of the running to purchase English Manchester City.
The 46-year-old former Manchester City player made a takeover proposal in April, revising an initial offer of GBP 90 million.
Ranson's GBP 90 million offer included the repayment of GBP 20 million in loans owed to chairman John Wardle and David Makin, plus a summer transfer kitty of GBP 20 million.
However, Manchester City insisted no such deal had been suggested.
"Ray has been unable to reach agreement with the board and withdraws from talks relating to a possible bid," read a statement to the Stock Exchange.
After spending six months trying to discuss an offer with the club board, Ranson's interest has abated. Ranson said he might re-enter the picture if former Thai Prime Minister Thaksin Shinawatra make a formal offer.
An U.S. consortium still is looking at a potential takeover.
The 46-year-old former Manchester City player made a takeover proposal in April, revising an initial offer of GBP 90 million.
Ranson's GBP 90 million offer included the repayment of GBP 20 million in loans owed to chairman John Wardle and David Makin, plus a summer transfer kitty of GBP 20 million.
However, Manchester City insisted no such deal had been suggested.
"Ray has been unable to reach agreement with the board and withdraws from talks relating to a possible bid," read a statement to the Stock Exchange.
After spending six months trying to discuss an offer with the club board, Ranson's interest has abated. Ranson said he might re-enter the picture if former Thai Prime Minister Thaksin Shinawatra make a formal offer.
An U.S. consortium still is looking at a potential takeover.
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