Rangers agree massive takeover breakthrough as guaranteed investment talks emerge
Rangers look set for exciting times ahead as a US-backed consortium propped up by 49ers Enterprises is looking to purchase the club.
A deal has appeared relatively close to being struck between Rangers shareholders and Paraag Marathe, 49ers Enterprises chief, who also owns Leeds United.
Advanced talks have been ongoing for some time, and now a major development looks to have dropped as Gers move closer to a new regime at Ibrox.
Rangers in huge takeover breakthrough
According to Sky Sports (3 March), the takeover is now one major step closer to becoming complete with legal paperwork being drafted up.
The agreement in principle for the American consortium to take over is arranged, with full confidence it can fully go through by the start of next season.
The takeover bid has been led by Marathe alongside health insurance tycoon Andrew Cavenagh.
Dave King, Rangers’ single largest shareholder (12.96 per cent), is one of several willing to sell their stake at Ibrox, with 51 per cent required as a minimum total for full control of the boardroom.
Talks have also reportedly taken place centred around “guaranteed future investment”, a figure which would be based on factors such as buying and selling players, and progress in European competition.
Ibrox could be set for a new era
Rangers supporters are desperate to be back at the top table, competing for every major trophy in Scotland and making a good fist of it in Europe.
Ironically, the team are finding the latter the easier of the two and certainly were under Philippe Clement, under whom their season highlights this year have mainly come via the Europa League.
Having qualified automatically via the last eight, Barry Ferguson’s Rangers are now focused on facing Jose Mourinho’s Fenerbahce before the Old Firm with Celtic on 16 March.
| Rangers key shareholders | Shares (%) |
| Dave King | 12.96 |
| Douglas Park | 11.54 |
| George Taylor | 10.22 |
| Stuart Gibson | 9.53 |
| Julian Wolhardt | 9.53 |
| John Halsted | 9.53 |
| John Bennett | 7.11 |
In the meantime, progress appears to be very smooth over the takeover deal and a potential new regime at Ibrox, but further shareholders need to agree to sell their stake before full boardroom control is acquired by the American backers.
Should Rangers achieve well in Europe this year, it could have a huge say on the “guaranteed investment” amount to provide a springboard to compete further and permanently.