Ex-Toon Star In Takeover Bid

In a carefully-worded statement to the Stock Exchange, City failed to confirm they had received an offer from Ray Ranson which, given the strict financial rules which operate within the City of London, can only infer that no formal bid has been made.

However, it is believed Ranson will issue his own statement to the Stock Exchange later today in which he will clarify his position.

Ranson is said to have the funds in place to pay off the £25million owed to Wardle and Makin and also has plans in place to eventually wipe away £40million owed to other creditors.

Ranson's City connections are likely to appeal to the club's long-suffering supporters, who are concerned at the lack of investment in players.

The bid is well-timed given it arrived 48 hours after midfielder Joey Barton launched a fierce attack on the way City were being run "from top to bottom" and called for the fires to be re-started at the club.

Ranson's name was heavily associated with the financial catastrophe at Leeds, with fans claiming it was the former England Under-21 defender's complicated buy-and-lease-back plans which led to the downfall of the Elland Road outfit.

He has vigorously defended himself against those charges though and, at a time when so many Barclays Premiership clubs have fallen into foreign hands, will no doubt be eager to stress the Britishness of his approach should official confirmation eventually be made.

Ranson signed for Newcastle in 1988 from Birmingham City and joined Manchester City in 1993, having made 102 appearances for the Toon, scoring one goal in a 2-1 home defeat by QPR.