Former Birmingham and Manchester City defender Ray Ranson has ended his interest in taking over Aston Villa.
Ranson, a successful businessman, had been linked with a £45m bid for the Midlands outfit, but his proposal has been rejected by the Villa board.
"Ray Ranson confirms he submitted a proposal to the board of Aston Villa plc subject to due diligence," a statement to the Stock Exchange said.
"The board of Aston Villa plc have decided that the price was inadequate."
The statement added: "Mr Ranson has therefore decided not to pursue his interest in making an offer."
Major shareholder and chairman Doug Ellis has resisted any attempts to buy control of Villa and a £30m bid from a consortium, which included Ranson, was rejected 14 months ago.
Ellis has suffered health problems in recent weeks and is recovering from triple heart bypass surgery.
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If he was a Russian billionaire then I'd be a little disappointed
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