Writer: Andy Leggott
Date:Thursday April 26 2007
Ray Ranson has today launched a second bid in his attempt to seize control at Eastlands.
Ranson issued the following statement to the stock exchange this morning:
'Further to the announcement made by Ray Ranson on 24 April 2007 and to the announcement made by Manchester City plc on 25 April 2007, 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 (which Ray has been ready to submit for a number of days subject to the completion of an initial review of certain due diligence information) 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.'
So things are hotting up in the race to seize control of the blues.
Speculation coming out of the club would seem to suggest that the current board would prefer the advances of an as yet un-named American consortium.
However the American approach is not believed to be a complete takeover of the club, rather a buy out of the Makin/Wardle holding with the intention of keeping the current management team on board.
If true that must be an area of concern for all that follow this club. It is after all the current management team that have lacked the ambition to move this club forward.
It would appear to me that the best course of action open to the board would be to accept a complete takeover of the club. That is not to suggest that I am throwing my support behind Ranson, rather that a complete takeover would appear to be what is best for the club.
There are already far to many factions operating in their own interests (rather than in the interest of Manchester City); adding another would simply be suicide.
I can only hope therefore that the Ranson deal is scrutinised and presented to the club's shareholders. If, as Ransoon says, it is not labouring the club with further debt then it is surely worth consideration as to whether it is in the best interest of Manchester City Football Club.
Date:Thursday April 26 2007
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