Man City Takeover Talks
Manchester City Football Club have announced to the Stock Exchange they are in "preliminary discussions" with investors that may potentially lead to an offer for the club.
Man City revealed in December's AGM they were in discussion with one investor, although it now appears that more than one party is keen.
A statement from the club announced "The board confirms it remains in preliminary discussions with third parties."
John Wardle and David Makin are the the football club's major shareholders. Each own nearly 30% of the Premiership club.
The next largest shareholders are Mark Boler (18.75%), BSkyB (9.9%) and Francis Lee (7%+).
According the Radio Five Live's Brian Alexander, Manchester City are believed to have denied the reported involvement of two potential investors.
"Philip Anschutz, owner of Millennium Dome and five football teams in America, was said to be among the bidders as was Michael Neville, who was interested in Aston Villa," said Mr Alexander.
"But both rumours have been denied."
The football club's intentions became public knowledge at the end of 2006.
Chairman Wardle said at the time: "The board is aware that we need further investment to maintain our challenge in an increasingly competitive and high-finance Premier League.
"We have identified a series of leads regarding possible investment in the club.
"Talks are at a very early stage and accordingly we are not yet in a position to disclose the identity of the possible investor.
"Hopefully, something comes of these talks because I would be prepared to pass the baton on if it allowed the club to get back into the honours."
Date: 23.02.07
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