Manchester City looks like the latest FA Premier League club to receive a takeover offer after speculation arose that a former player for the club tabled a £90m bid.
Former full-back Ray Ranson is believed to have tabled a bid covering the club's shares, loans of about £24m to major shareholders John Wardle and David Makin and debts to other creditors.
Ranson, who is thought to have the backing of other businessmen, is said to be prepared to provide a transfer kitty of around £20m for new players.
The 46-year-old multi-millionaire made his fortune from insurance and from football finance and has also invested in football analysis company Prozone.
He had previously made two bids for Aston Villa before the Midlands club were bought by American billionaire Randy Lerner.
Manchester City has confirmed it is in talks with potential investors but has denied any receipt of a firm offer.