The Times reports:
'Manchester City have received a £90 million takeover bid from a British-based consortium headed by former player Ray Ranson. Ranson, who previously failed in an attempt to buy Aston Villa, lodged his offer with the Eastlands outfit last night and is currently awaiting a response. Although Stock Market rules prevent Ranson discussing his bid, it is thought any deal would result in a £20m transfer windfall for Stuart Pearce, the manager.
'It has previously been suggested the City hierarchy would not be interested in doing business with Ranson because they did not want the club saddled with further debt. However, Ranson is thought to have the funds in place to pay off the £25m owed to Wardle and Makin and also has plans in place to eventually wipe away £40m owed to other creditors.
'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.'
But he faces competition from someone with an even more dubious record:
'Manchester City's search for outside investment has attracted a preliminary approach from Thaksin Shinawatra, the former Prime Minister of Thailand, who failed with a bid to buy a 30 per cent stake in Liverpool three years ago. Although reports in Thailand of a £92.5 million offer for the Barclays Premiership club are premature, City are understood to have fielded an initial inquiry from Thaksin or his representatives with a view to a substantial investment.
'It remains to be seen how City's board would react to a firm offer from Thaksin, whose government's human rights record caused concern among many associated with Liverpool in 2004. This, along with an adverse reaction in Thailand, led to the bid's failure.
'John Wardle, the City chairman, was understood to favour a bid from a North American consortium, but, with no firm offer forthcoming, the club are exploring other possibilities as they search for investment.'