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Middlesbrough chairman Steve Gibson rejects China stake bid - report

Middlesbrough chairman Steve Gibson has said he has no intention of selling the club after rejecting a £50 million offer for a stake, Press Association Sport has reported.

It said Gibson, who saved Boro from the brink of financial ruin in 1986, is not interested either in a full sale or a partnership, but is open to potential new commercial avenues.

Sources on Teesside said Gibson and consultant Peter Kenyon met Chinese businessman Chien Lee, whose OGC Nice Investment Group Ltd owns French club Nice, and associates in October.

An offer of around £50m was made for a 50 percent stake in the club, promoted to the Premier League last season, but swiftly rejected.

However, the two parties could yet work together as Gibson attempts to increase Boro's global profile.

The 59-year-old local businessman joined the club's board at the age of 26 and led the club through liquidation in 1986 before reluctantly taking on the role of chairman eight years later.

Gibson built the Riverside Stadium and appointed Bryan Robson as manager, sparking an influx of big names such as Juninho, Fabrizio Ravanelli and Emerson.

Boro later won the 2004 League Cup, their first major trophy, and reached the UEFA Cup final two seasons later.

Lee has previously held talks with Hull, but failed to strike a deal with the Allam family, and is also understood to have made overtures to Middlesbrough's north-east neighbours Newcastle and Sunderland.

News of his discussions with Gibson emerged as rumours circulated that Karanka had parted company with the club on Monday evening after criticising sections of the Riverside crowd after Saturday's home defeat by West Ham.

However, the speculation proved ill-founded and the Spaniard remains in post.

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