Rangers FC could be set for a major financial boost as they are reportedly at the centre of a US-led takeover bid, backed by the substantial wealth of the San Francisco 49ers.
The Daily Record reports that high-level talks over a multi-million pound investment began before the year’s end and are now thought to be in ‘an advanced stage’.
If an agreement is reached, the Ibrox club could see a significant cash injection, which would likely fund a spending spree in the summer transfer market. Leeds United chairman Paraag Marathe, who also heads the NFL giants’ investment arm, 49ers Enterprises, is said to be one of the key figures behind the proposal.
Marathe, also the executive vice president of football operations in San Francisco, was instrumental in a takeover of Leeds, who edged closer to a Premier League return with a thrilling late victory over Sunderland on Monday night. It is believed he is now part of a consortium, including at least one other wealthy American business tycoon, aiming to restore Rangers to the pinnacle of Scottish football after years in the shadow of arch rivals Celtic.
The American consortium is planning to acquire enough shares to become the largest single shareholder in the club, likely to demand seats in a revamped boardroom. The specifics of the move remain unclear, but the current major shareholders’ configuration suggests any deal will be complex.
Former chairman Dave King owns nearly 13 per cent, Douglas Park holds close to 12 per cent, George Taylor has just over 10 per cent, Stuart Gibson is slightly far behind with John Bennett holding around seven per cent. Julian Wolhardt and John Halsted, who are directors, share a combined stake of just over 12 per cent.
Although Marathe hasn’t played a prime role in the takeover talks, it’s believed he has agreed to help fund it as his group nears a deal to oversee a huge transfer of power in the boardroom. In return, Rangers would get a significant injection of transfer cash, and would also receive access to the 49ers’ data-driven technology for player recruitment.
The potential buyers see Rangers as an ideal investment opportunity due to the club regularly competing in UEFA’s elite competitions. Marathe’s understanding of British football, along with his position with the 49ers, are viewed as significant.
It comes at a pivotal time for Rangers, who have endured a very tricky season with Phliippe Clement under immense pressure.
The Ibrox outfit sit second in the Scottish Premiership, a massive 13 points off Celtic at the top. But pressure was relieved on him after they progressed straight to the knockout stage of the Europa League.
This article originally appeared on The Daily Record.
