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The group interested in a £30m takeover bid for Aston Villa have not given up hope of wrestling control of the west Midlands club.

Led by former Manchester City full-back, Ray Ranson, the group told the Stock Exchange that it had a “potential interest in Aston Villa and that a further announcement would be made in due course.”

The group’s initial bid was turned down by the Aston Villa board. They said: “Having considered the proposal and consulted with advisors, the boards view is that it significantly undervalues Aston Villa and the proposal has been rejected.”

Previous reports of a bid for the club by a Venezuelan billionaire last year came to nothing. However, reports have confirmed that talks between the latest interested parties and the club chairman, Doug Ellis, about a potential buyout have been going on for three months.

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