City cast doubts over Ranson plans

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

In a statement to the Stock Exchange on Wednesday morning, City confirmed they have received two offers from Ranson, the last of which was received well over a month ago.

A statement said: "Ranson's indicative proposals to date have contained a number of material conditions that the board do not believe can be fulfilled."

Given City's present financial position, and chairman John Wardle's willingness to sell the 29% stake in the club he owns with former business partner David Makin, it would seem odd that any Ranson bid would be dismissed out of hand, even though it has previously been stated there is unlikely to be any deal with the former City player.

However, the club have now revealed their concerns over the offer.

The statement continued: "The board can confirm it received, and responded promptly to, a highly conditional indicative proposal from Ray Ranson and his advisers on March 12, 2007.

"For the avoidance of doubt, since March 12, 2007, contrary to media speculation, neither the purported '£90million bid' nor further proposals of any sort have been received by the company or its advisers from Ray Ranson.

"The board will continue to consider all indicative proposals and offers from potential offerers including Ray Ranson and, as announced on April 24, 2007, continues in preliminary discussions with interested parties.

"These discussions may or may not lead to an offer being made for the company."