Steve Lansdown says he and wife Maggie are honouring a long-standing commitment to shareholders by launching a bid to purchase the remaining three per cent of Bristol City.
Pula Sport Limited, the company owned by the Lansdowns, owns 97 per cent of the club and offer letters have been sent to shareholders to hopefully complete a 100 per cent takeover.
Speaking to bcfc.co.uk , Lansdown claims the move is part of pledge he made during his early years as chairman to reward those who were financially invested in the club for their loyalty.
"I have been involved with Bristol City Football Club for over 22 years and, since 2002, when I became chairman, I have been increasingly responsible for the funding of this great club," Lansdown said.
"I wish to honour a commitment I made to shareholders at an annual general meeting in the early years, at which I promised to ensure that you received an offer for your shares. As Pula Sport has increased its commitment to the club over the years it is only right that I now honour that commitment.
“I hope you are proud of what we have achieved over the years and I recognise that this would not have been possible without your support and investment.
"I am therefore very pleased to honour my commitment to you and look forward to many enjoyable and successful years ahead as we continue to build Bristol City into a first class football club that we can all be proud of.
"It is an exciting time for our club with the new training ground underway and the new developments taking place at Ashton Gate.
"I understand that many shareholders hold their shares for sentimental reasons rather than for monetary gain. I would like to recognise and publicly thank these shareholders for their support of the club by creating an honours wall in the stadium."
Guernsey-based billionaire Lansdown first become involved at boardroom level at Bristol City in 1996 before becoming chairman eight years later.
Lansdown stepped down as chairman in 2011 but has continued to play a hugely influential role and Ashton Gate underwent a £45m redevelopment in 2014 transforming it into a 27,000-capacity venue among the best in the Championship.
Under the Lansdown family's ownership, Bristol City have achieved two promotions, won the EFL Trophy twice and produced incremental growth under Lee Johnson in the Championship, putting themselves firmly in the Premier League promotion hunt.
Shareholders will have the option to direct the proceeds of their sale to the Bristol City Robins Foundation and Lansdown added: "The Foundation does an incredible job in our community, making a positive difference through sport and learning.
"If people do decide to pass on the proceeds of their sale, or indeed a proportion of them, to the Robins Foundation, then I want to sincerely thank them."
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