Rangers takeover deal with US investors AGREED in principle
A DEAL has been agreed in principle between Rangers and the American consortium who want to take over the club.
Paraag Marathe of 49ers Enterprises, the business arm of the San Francisco 49ers, has been engaged in talks with Ibrox power brokers for some time now over potential investment, working alongside insurance tycoon Andrew Cavenagh.
Marathe and the 49ers also own Leeds United but with the EFL and the SFA unlikely to stand in their way, a deal for them to complete a stunning takeover of the Glasgow giants has been agreed.
Cavenagh is chairman of health firm ParetoHealth and he and Marathe are aiming to acquire a controlling stake in Gers, of around 51 per cent.
It’s understood that all parties are confident the deal will be agreed before the start of the new season.
All that remains now is for due diligence to take place and legal paperwork to be drafted up, though the SFA and EFL consent will be required to rubber-stamp any proposal.
Current Gers shareholders Dave King and John Bennett have already agreed to sell up with a view to welcoming the Americans on board.
Fellow directors Douglas Park, George Taylor, Stuart Gibson, Julian Wolhardt and John Halsted could all be convinced to sell their shares too.
Halsted and non-executive director Alastair Johnston have ties to the US and they have been crucial in talks getting to this stage.
Marathe has been with the NFL giants for 24 years and has a close relationship with its billionaire chief, Jed York.
The franchise was valued at around $6billion by Forbes recently and has won five Super Bowl titles in its history.
The last of those wins came prior to Marathe’s involvement but the team has reached the Super Bowl three times since he has been a key decision maker.
Who owns Rangers?
As the San Francisco 49ers pursue potential investment in Rangers, SunSport looks at who own the biggest blocks of shares at Ibrox
Dave King 12.96%
Borita Investments & Perron Investment (owned by directors Julian Wolhardt and John Halsted) 12.69%
Douglas Park 11.54%
George Taylor 10.22%
Stuart Gibson 9.53%
John Bennett 7.11%
Due to Marathe’s involvement with Leeds, some fans feared that Rangers would become a feeder club for the Elland Road side – particularly as they look nailed-on to return to the Premier League from the Championship after this season.
But Marathe broke his silence recently and was adamant that would never be the case.
Indeed, it’s believed Rangers bring to the table something that Leeds are unlikely to offer in the short-term – a route to the Champions League.
Discussions have also taken place regarding further investment down the line, which would be dependent on success in Europe and a reinvigorated player trading model.
The lowdown: San Francisco 49ers
George Kittle, one of the stars of the San Francisco 49ers
- Foundation: The San Francisco 49ers were established in 1946 as a charter member of the All-America Football Conference (AAFC) before joining the National Football League (NFL) in 1949.
- Name origin: The team is named after the prospectors who flocked to Northern California during the 1849 Gold Rush in search of fortune.
- Team colours: The 49ers’ official team colours are red, gold, and white, symbolising the region’s rich history tied to the Gold Rush.
- Home stadium: Since 2014, the team has played its home games at Levi’s Stadium in Santa Clara, California, which is located about 40 miles south of San Francisco.
- Championship success: The 49ers have won five Super Bowl titles (1981, 1984, 1988, 1989, and 1994), making them one of the most successful franchises in NFL history.
- Notable players: Legendary players include quarterback Joe Montana, wide receiver Jerry Rice, safety Ronnie Lott, and quarterback Steve Young, all of whom are Hall of Fame inductees.
- Coaching legacy: Head coach Bill Walsh, who led the team to three Super Bowl victories, is credited with pioneering the “West Coast Offence,” a revolutionary passing-focused strategy.
- Rivalries: The 49ers have fierce rivalries with teams such as the Dallas Cowboys, Green Bay Packers, Los Angeles Rams, and Seattle Seahawks.
- Ownership: The team is owned by the York family, with Jed York serving as CEO. The franchise was originally owned by Tony Morabito, one of its founders.
- Cultural impact: The 49ers are a symbol of Bay Area pride and have a dedicated fanbase known as the “Faithful.” The team has also been featured in various films, books, and media, cementing its place in American sporting culture.
Keep up to date with ALL the latest news and transfers at the Scottish Sun football page