Rangers takeover: US consortium now sweeps through legalities to seal Ibrox deal
Paraag Marathe and Andrew Cavenagh are inching closer to finalising their proposed takeover of Rangers.
News of a consortium including 49ers Enterprises being in advanced talks over buying Rangers emerged last month and it quickly gained pace some existing shareholders agreed to sell up.
The buyers had a major breakthrough when Sky Sports reported last Monday (3 March) that they had reached an agreement in principle to move forward with the deal.
Therefore, Marathe and Cavenagh will acquire a 51 per cent stake at Ibrox once due diligence is done on the agreement and the paperwork is done.
49ers sweep through legalities as Jose Mourinho verdict made
Gary Keown has now provided the latest update on where the takeover stands, revealing that the US consortium is currently sweeping through the legalities of the deal ahead of the ‘Great Reset’ at Rangers.
| Shareholder | Stake |
| 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% |
The journalist also rubbished claims of Jose Mourinho being a possible candidate to become the Light Blues’ next manager, while Celtic are already a no-go after Porto’s 3-2 win against them in the 2003 UEFA Cup final.
“That only leaves the old Teddy Bears, then, and the truth is that a figurehead of his [Mourinho’s] ilk is pretty much the last thing the Ibrox club need as they prepare for the Great Reset under the US consortium now at the stage of going through the legalities ahead of sweeping into power”, Keown wrote in the Scottish Mail on Sunday (page 90, 9 March).
Rangers set for new era
It is only a matter of time before Marathe and Cavenagh are calling the shots at Rangers and it will truly be the start of a new era.
Rangers fans will hope that the new owners can reinstate glory at Ibrox after witnessing the club turn to shambles after years of mismanagement.
The US consortium has their work cut out for them as their first task after completing the takeover will be to identify and appoint a permanent replacement for Philippe Clement.
Barry Ferguson has been tasked with steadying the ship until the end of the season, but the Gers need to bring someone in on a permanent basis to take the club forward.
Mourinho has sparked talk of him being the Ibrox outfit’s next boss after admitting he would open to managing in Glasgow, but he is far from what they need, as Keown said.