Manchester City have revealed to the Stock Exchange they are in “preliminary discussions” with potential investors that may lead to a takeover bid for the club.
“The board confirms it remains in preliminary discussions with third parties,” said the statement.
The club’s major shareholders are John Wardle and David Makin who own nearly 30% of the Premiership club. The next largest shareholders are Mark Boler (18.75%), BSkyB (9.9%) and Francis Lee (7%).
City’s intentions came to public knowledge in December last year.
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.”