EFL introduces major rule change on dual ownership with Scottish clubs amid Rangers Leeds 49ers link-up
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THE EFL have ripped up the rulebook and fallen into line with the Premier League when it comes to multi-club ownership between its clubs and those in Scottish and Irish football.
And that could open the floodgates for further investment along the lines of 49ers Enterprises involvement in Rangers, Black Knight's interest in Bournemouth and Hibs, or Brighton owner Tony Bloom's involvement in Hearts.
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Paraag Marathe, President of 49ers Enterprises, at Elland Road
Credit: Alamy
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Rangers chairman Andrew Cavenagh and vice-chair Paarag Marathe at Ibrox Stadium
Credit: Willie Vass
We told you at the beginning of the Andrew Cavenagh/49ers Enterprises saga how the takeover would have been BLOCKED under the previous rules if Leeds had failed to win promotion back to the top flight.
Those hopes were teetering on the brink at one stage as they were locked in a three-way shootout with Burnley and Sheffield Utd, but Leeds came through at the death as Sheffield Utd faded and the rest is history.
And now The Guardian are reporting that EFL bosses have changed their rules at the AGM earlier this month in any case.
A combination of Andrew Cavenagh and 49ers Enterprises saw them pay £75m for 51% of Rangers in a transaction that transaction would have been delayed had Leeds not been promoted to the Premier League.
Under the new regulations that will come into operation this coming season, owners and directors are now only prohibited from having interests in more than one club in the EFL, Premier League, National League, Southern League, Isthmian League and Northern Premier League.
For these purposes, aninterest is defined as holding shares in two clubs or exerting any managerial or administrative influence.
In the short term it's Irish Football League clubs are likely to benefit from more investment offers after the rule change.
That's because ambitious EFL sides could park European Union players there to get round strict post Brexit work permit criteria.
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