Thursday, February 22, 2007

Manchester City in Takeover talks

Manchester City revealed before New Year that they were seeking fresh investment in the club .
The key to any deal would be the agreement of chairman John Wardle and his business partner David Makin, who between them own 29.75% of the shares but also have £21million in outstanding loans to the club.The next largest shareholders after Wardle and Makin are Mark Boler (18.75%), BSkyB (9.9%) and Francis Lee (7%+).

If he and Makin did step down, then it is understood the newcomers would invest heavily in City but could end up financing a full £70million takeover.

That could mean a boost for manager Stuart Pearce as he attempts to strengthen his squad.

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