London:Ray Ranson has abandoned plans to buy Manchester City, clearing the path for former Thai leader Thaksin Shinawatra to take over the Premier League club.
Ranson, who played for Manchester City from 1980 to 1993, said on Wednesday he had "invested significant time" over the last six months considering whether to make a bid for the club, but did not get much support from the board.
"Ray has been unable to reach agreement with the board in progressing discussions and therefore announces that he is withdrawing from further talks relating to a possible offer for the club," Ranson said in a statement to the London Stock Exchange.
After retiring as a player, Ranson worked in insurance and sports finance.
Thaksin made an indicative proposal to take over Manchester City on May 1. That allowed him to conduct due diligence of the club ahead of a formal offer, which has yet to be made.
Thaksin was ousted as Thailand's prime minister in a September 19 coup after being accused of corruption and abuse of power. He now lives in London.
Manchester City was formed in 1894 and has spent the last four years in the Premier League. It was English champion in 1937 and 1968 and won the FA Cup four times, the last in 1969. City also won the European Cup Winners Cup in 1970 - its only international silverware.
The club moved into a new 47,500-seat stadium in 2003. The team finished 14th in the 20-team Premier League this season and is currently without a manager after Stuart Pearce was fired on May 14.