San Francisco 49ers owners set to complete Rangers takeover deal
A takeover deal for Rangers is set to be completed, with the owners of the San Francisco 49ers on track to acquire a majority stake in the Glasgow giants, according to reports.
The news follows months of discussion around a proposed investment and comes at a delicate time for the club, with Rangers 16 points behind Celtic at the top of the Scottish Premiership but about to face Fenerbahce in a Europa League last-16 tie.
Sky Sports have reported that 49ers Enterprises, the investment arm of the NFL franchise owners, have agreed in principle a deal to buy a minimum 51% of shares in the club, with due diligence now to begin on the offer. Dave King, the largest shareholder at Rangers, would be expected to sell his stake in any arrangement, but a number of other investors are also reported as being interested in selling up.
49ers Enterprises also include Leeds United in the ownership portfolio, with its president, Paraag Marathe, serving as chair at Elland Road. Marathe is said to be working alongside Andrew Cavenagh, the executive chair of health insurance company ParetoHealth, to finance the deal.
Speaking last week at the Financial Times Business of Football Summit, Marathe did not comment on any Rangers acquisition but acknowledged 49ers Enterprises were looking at further investments.
'I can't really comment on whatever rumours might be out there,' Marathe said. 'But we are looking at other opportunities. It is doable to replicate the passion [of Leeds United]. What we are looking for is clubs with the right bones, history of success and potential for growth.'
Concerns have been raised over the possibility of Rangers becoming a feeder club for Leeds if the deal went through. Parathe said such an arrangement would not be considered by his group.
'Leeds United stands alone, if we were to look at another club that would stand alone,' he insisted. 'What you can share and do on the sporting side, we haven't looked at one club as a feeder club. Just like there is to love all of your children, there's enough room in your heart to love all your sports properties.'
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Rangers have been approached for comment.
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