Richards´ deal is not due to expire until 2010 but new owner Thaksin Shinawatra is keen to secure the services of the England international, who has already skippered City this season and whom boss Eriksson views as a long-term Blues captain.
Eriksson said: "Micah is under contract until 2010, so he has plenty of time to sign. He will sign, I just don´t know when. I do not know how close it is but sooner or later it will happen, I am quite sure about that."
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