Ray Ranson has moved to reassure Manchester City supporters that he will not plunge the club into further debt if he succeeds in his protracted attempts to buy the club.

The former City player confirmed in a statement to the London Stock Exchange last night that he has made “indicative proposals” to the City board about a potential £70 million buyout, but while he has yet to receive a favourable response from the club, that is unlikely to prevent him from making a formal offer in the future.

City have so far distanced themselves from Ranson, whose approach is being backed by a UK-based financial partner, for fear that his plans would lead to a worsening of the club’s financial situation.

John Wardle and David Makin, the majority shareholders, are understood to favour an unnamed consortium from North America and were quick to emphasise yesterday that they were still in “preliminary talks with third parties that may or may not lead to an offer being made for the company” after reports emerged that Ranson was preparing a formal takeover bid.

If nothing else, Ranson’s decision to go public for the first time about his desire to buy City was a clever PR move that will put pressure on the club, not only to clarify its position with regards to Ranson’s consortium, but also to reveal the identities of other would-be suitors.

Aside from Thaksin Shinawatra, the former Thai Prime Minister, who, contrary to the claims of his lawyer yesterday, is still thought to retain a serious interest in buying City, the identities of other interested parties have been kept a closely guarded secret.

It is thought likely that other suitors are waiting until City’s Barclays Premiership safety is assured before moving forward, but Ranson’s desire to press ahead regardless will probably earn him more goodwill among the fans, many of whom still have fond memories of him as a defender in the late 1970s and early 1980s.

Ranson is thought to be willing to wipe out the £23 million in loans that the club owe Wardle and Makin, as well as providing a healthy transfer kitty to the manager, although it is unclear whether Ranson would persist with Stuart Pearce should he be successful.

“Ray Ranson can confirm that he is interested in buying the club and has, over the past couple of months, made indicative proposals to the club concerning a possible offer,” the statement read. “Ray is yet to receive a positive response from the board to these indicative proposals and is currently considering making a further proposal to the board.

“Ray recognises that the club is heavily indebted and his business plan is not dependent on leveraging the club further. Together, Ray and his partners have developed a plan that is aimed at taking the club forward, both on and off the field.”

What is clear is that City need significant investment if they are to re-establish themselves among the elite of English football and halt the club’s dwindling attendances.

Joey Barton, the midfield player, seemed to speak for thousands of supporters over the weekend when he claimed that he would not have paid to watch the team this season.

City, meanwhile, have rejected a plea from Manchester United to move the televised derby game on Saturday, May 5 back 24 hours. United are not due to return from the second leg of their Champions League semi-final against AC Milan in Italy until the early hours of Thursday morning.