Manchester City have revealed that they are in talks with potential buyers but have denied reports that they have received an offer for the club.
Former City full-back Ray Ranson, who previously failed in an attempt to buy Aston Villa, was said to have made a £90m offer on Monday.
But City released a statement to the Stock Exchange to say that talks were still ongoing.
“The board of Manchester City confirms it remains in preliminary discussions with third parties that may or may not lead to an offer being made.”
City chairman John Wardle earlier this month admitted the club were in talks with potential investors and is thought to be keen to sell.
On Monday reports claimed former Thailand prime minister Thaksin Shinawatra, who failed in a bid for Liverpool in 2004, was interested in buying City with partners from China and the Middle East.
Ranson’s reported bid on Monday evening was said to cover the club’s shares, loans of about £24m to major shareholders Wardle and David Makin – who own 29% share of the club – and the club’s debts.
Ranson made over 200 appearances for City, where he started his career, but since retiring from teh game, he has carved out a successful career from insurance and from football finance.