Ranson makes debt pledge

Chris Bailey

April 24, 2007

STOCK EXCHANGE STATEMENT: Ranson

RAY RANSON is poised to improve his £90m bid for the Blues and insists his takeover bid will not plunge the club into further debt.

As revealed in the M.E.N. Sport Ranson is the first of four interested parties to show his hand.

Tonight a statement to the Stock Exchange confirmed that 46-year-old Ranson's previous proposals - said to be worth around £90m - had not received a favourable response.

A statement said: "He is yet to receive a positive response from the board to these indicative proposals and is considering making a further proposal to the board of the club.

"Ray recognises the club is heavily indebted and his business plan is not based on increasing that."

The former Blue has confirmed the identity of his backer to the City board and insists the money is on the table.

City have confirmed they were still in talks with a number of interested parties. Chairman John Wardle must now decide whether to open negotiations with Ranson but is believed to favour a proposal from an American consortium.

A statement said: "Shareholders should be aware that there can be no certainty that a formal offer will be made. There is a likelihood of an offer to the shareholders which may be improved with the club's help."

What do you think? Have your say.

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albatross, bury (24/04/2007 at 18:56)

It all sounds very promising, but without knowing the real motives of any of the interested parties' motives I don't feel able to comment much (oh go on then, I prefer the RR bid!). What does seem certain is that it does seem that money will be made available. I would be interested in hearing where people would look for these players (Arsenal's 'second' eleven?; the relegated clubs? etc), and who they would keep/make their First Team- mine: Weaver, Onouha, Richards, Dunne, Bridge, SWP,M Johnson, Ireland,Middlesborough left winger whose name has inexplicably gone ,D Bent, Sturridge.

Blue Arab (24/04/2007 at 19:10)

Am not sure what to make of this. Who are the potential American dudes? Why are we left in the dark?

Answers answers, it is our club and we have every right to know. Come on Wardle, come out put it in plain English. What is going on? Who are the bidders? And how many of them?

Bluetooth, Manchester (24/04/2007 at 20:20)

It looks like Ray hasn't got a huge amount of cash, but well structured long term loans. He would use this to pay off Wardles loans to the club and all the short term debt that is crippling us. This would not reduce our debt much, but would put us in a much more viable trading position, where we might actually be in a position to make a bit of a profit and invest.

There are 2 opposing reasons that Wardle may have turned this down.

The first would mean JW really has City at heart and is prepared to keep throwing cash at the club until he gets a cash rich offer.

The second means he just wants a lot more money for his shares, before giving up control. The American bid might even let him retain control of the club.

The fact that Ray has told him who his backers are & that he is making an improved offer , suggests the second reason is much more likely. It is also suspect that JW has had this offer for 2 months, according to the report and said nothing.

It looks like Ray has now gone public to put pressure on the board, because nothing has happened. I would now expect him to put in an improved offer and maybe try and get 1 or 2 of the other major shareholders to support him. He also knows that if things don't improve on the field, the fans will pressure JW. But we shouldn't all jump on his band wagon until we get a bit more information.

It looks like being a war of nerves. Ray playing hardball and JW sitting tight hoping for someone else to make a better offer. I just hope it doesn't drag on all summer. Several key players are on the edge of leaving if they don't get a clear signal that the club is going the right way.

Bluetooth, Manchester (24/04/2007 at 20:28)

Blue Arab - If you expect Wardle to suddenly start telling us all what is going on, you are in for a long wait. He never has in his entire time as chairman.

Maybe now you can see why the rest of us don't like the current regime. It isn't because he's a bad guy, he's just frightened to answer questions, because he doesn't really know what he is doing. He spent a fortune on Keegan, it all went wrong and since then he hasn't had a plan. We've just been muddling along.

proudtobeblue (24/04/2007 at 20:48)

It seems to me from this statement that RR is more than keen to ensure the club getsout of the financial state it is currently in,they have sound plans in place it would seem to progress the club and he has been involved in and around football for many years since hanging up his boots. John Wardle is going to find it extremely difficult to find a valid reason not to accept his proposals. The sooner this is resolved the better, so that funds can be in place for the start of the transfer window and we are not left scratching around for the dregs. Personally, if the current bottom 3 are the ones that end up relegated, I would like to see City go for Darren Bent(£8 million), Boa Morte(£3-4 million), Benayoun(£4 million) and possibly Bouazza(£3-4 million) hopefully Sidwell for free, those 5 players could bring the pace and creativity we need (and we may even have some spare money to make Beasley permanant for around £1-1.5 million) and while we are dreaming of players maybe Bridge on season loan?

tommybates, Manchester (24/04/2007 at 21:31)

Ray is a brilliant business man,but reading his agenda for running a football club I get the idea he sees himself as a shadow team manager telling a puppet manager which players to buy sell and select and making regular visits to the dressing room if things
are going badly,sorry but I'd give this guy a wide berth.

life in a blender, Debenhams (24/04/2007 at 22:17)

Ray Ranson? Yes, please! Prime minister of Thailand? No, thanks.

The Colonel, Kippax St (24/04/2007 at 22:36)

Now the fun begins. At least we can put to rest the monotonous "just another smokescreen..." type comments for the time being at least. The board are probably not obliged to name the other parties yet but I'm sure they'll reveal themselves shortly. The interesting thing is how cool City seem have been with RRs bid which seems very attractive on the face of it - are they expecting much bigger offers from the others?

the blue nun, warrington (24/04/2007 at 22:39)

i would certainly support a bid from ray and his pal. the porblem with americans is they really are only in it for the money and if it doesnt work out where will we be then ? i'm not suggesting ray is doing this out of the goodness of his heart, he is a businessman after all but i feel he is more understanding of the culture of football than is an american. i cant see him being in the mould of franny lee either, he seems far more, sahll we say, cultured and would probably let the club riun itself rather than interfere. i do however feel he would not trust sp with his money. i wouldnt !

Jesper, Copenhagen (24/04/2007 at 22:46)

I have read a lot of moaning on Ray Ransons proposed takeover bid and honestly I cannot understand it. Having been accused of moaning quite a lot meself over the negatives of our season I cannot understand why the same people start to moan when positive news actually hit the City frontpage. A multi millionaire City fan (and former player) wants to take over our beloved club. But now thats all of a sudden not good enough, people start looking at his past and seeing all kinds of ghosts when really he cannot be blamed for much wrong doing. On the contrary Id say he has done quite well building his fortune and he is a football man for goodness sake! How many of those are left in football today? Yes, the American bid might be just as good, but we dont know anything of it yet, do we. So lets be positive that RR has shown interest in our club and made a very good offer indeed. Certainly sounds better than the proposed interest from the former corruption hit Thai PM anyway. Liverpool didnt want him, then why do we? I think we should stick to what many people have been calling for, sensible investment in the hands of people who have their heart in football and the club.

blue62 (24/04/2007 at 23:09)

I wonder if the reason why Wardle & Makin are against Ranson's bid is because many of the present director's would lose their jobs. Also am I the only one who is sick hearing about how those beloved duo put their own hard earned cash into city (although they do want it paid back). I know its easy to say you would give money to the club when you haven't got it but I & thousands of city fans would gladly give it without expecting it to be paid back, that's what being a supporter means.

sonski, Exiled from Manchester, in Sydney. (25/04/2007 at 04:04)

Always very sceptical of ex-players coming in and running a club. After all just look at what Franny Lee did. Ranson looks to have a one off 35m transfer fund - once thats been peed up against the wall, where's the next 35m coming from? I for one am not convinced that he has the long term finance in place that we need to avoid another KK style binge followed by years of drought. And secondly, ex players have a nasty habit of getting too involved - interfering with the dressing room, "advising" the manager to do things, jobs for the boys, etc etc. Yes he may love the club, but in that case why did he go for Villa first, then wait a year to bid for City? Sceptical, very sceptical...........

Brisbane Blue, Brisneyland (25/04/2007 at 05:48)

Dear Mr Ranson (Ray), I read in the Guardian that you "plan to honour the traditions and values of Manchester City" - As a supporter of some 40 years, most of which I have attended on a home and away basis, can i ask that you DON'T HONOUR OUR TRADITIONS. With the exception of 6 or 7 years from the late 60's to mid 70's we have been absolutely dire. You know mate...you were here for some of them years. The place has been going downhill for decades new stadium or not (We don't own it).
If you buy our club, and good luck to you, please instil a new set of values and traditions because our only tradition is in not winning anything.
To all other blues please do a bit of homework re the Leeds saga and Ranson's involvement. It's too easy to be negative from an ignorant viewpoint.
By the way Ray, if you do get control of the club please give Pearce the flick. Cheers mate.

RatherBeDeadThanRed, Manchester (25/04/2007 at 07:46)

Wanted to take the time to pay my respect to Alan Ball who died today at 61. rest in peace Alan

City Slicker, Bristol (25/04/2007 at 08:50)

The operative word here is FURTHER debt. Better the devil we know in that case.

DUBLIN BLUE (25/04/2007 at 08:51)

I DONT KNOW THE INS AND OUTS OF THIS PROPOSAL BUT "RAY RANSON'S MANCHESTER CITY" SOUND AS IF THEY COULD WIN THINGS

Weasel (not McKay), Stockport (25/04/2007 at 08:53)

So according to the club and an official statement there appears to be conditions in this proposal, that the board due not feel the RR consortium can meet. Back to you Ray - how much do you want it? Time to reveal a little more and sell your bid to JW and the board.

Weasel (not McKay), Stockport (25/04/2007 at 08:58)

Blue Arab, it isn't down to JW and the board to announce who the bidders are. IMO it is very possible the bidders have a condition of anonymity. Note RR announced that he was bidding for the club - he showed his cards to the media before the club confirmed it. My advice to you Blue Arab is to look up the definition of "due diligence" and it will all become clear.

Chris, Sharston (25/04/2007 at 09:10)

Isaakson all the way now!!

Steve London/Kippax Borders (25/04/2007 at 09:53)

According to the Mirror:
San Francisco-based investment banker Jerome Simon is one of the mystery American financiers behind a move to buy into Manchester City - after earlier trying his luck with Millwall.
(Taken from the Beeb's gossip column).
Don't know anything at all about this guy though. Any other rumours about the identity of these American characters?

The right side of the Kippax (25/04/2007 at 11:15)

The problem I see is not with Wardle and Makin , they have backed City as much as they possibly can, it is with the other 71% of shareholders who have invested nothing and stand to reap the rewards of W & M,s investment , whom ever buys City I hope they purchase the 71% of dead weight as well as W & Ms 29% .
Why should people invest into a partnership that is only one way, OH! And Pearce should go now his brand of football does not reflect the heritage that is Man City.
The right side of the Kippax (ex Gorton)

Mike (25/04/2007 at 12:37)

Calling Bill Gates. We can be sponsored ny Microsoft and play at the XP Pro stadium.

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