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Last Updated: Thursday, 7 December 2006, 12:14 GMT
Man City 'in takeover discussion'
Manchester City
Manchester City could be next in line for a new owner
Manchester City look set to be the next Premiership club to be the subject of a takeover after revealing they have opened talks with investors.

Chairman John Wardle said at City's annual general meeting: "We are currently in talks with an investor that may lead to potential investment."

BBC Radio Manchester understands that one of the interested parties talking to City is an individual.

And it is believed they could be ready to launch a 70m takeover of the club.

It is no secret that City have been searching for new investment.

And chief executive Alistair Mackintosh has recently borne the brunt of fans' frustration at the lack of money available at the club.

We are not yet in a position to disclose the identity of the possible investor

John Wardle

City have been struggling to compete financially with similar-sized rivals - and that could worsen following the recent takeovers at Aston Villa and West Ham.

Wardle added: "The board is aware that we need further investment to maintain our challenge in an increasingly competitive and high-finance Premier League."

And it now seems that City will follow the recent trend of Premiership clubs accepting buyouts.

606 DEBATE: Give your thoughts on this story

But is not yet known whether that investment will come from a foreign source, as it has in the shape of US tycoon Randy Lerner at Villa and Icelandic businessman Eggert Magnusson at West Ham.

Their entry into the Premiership follows high-profile takeovers by Roman Abramovich at Chelsea in 2003 and Malcolm Glazer at Manchester United in 2005.

And Liverpool are in talks with the Dubai government.

Wardle added: "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."


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