Rangers stand on the brink of history as the US takeover deal to take over at Ibrox edges closer to completion.
News broke in February that Rangers are in advanced negotiations with a US consortium made up of 49ers Enterprises and Andrew Cavanagh over taking over at Ibrox Stadium.
Former Rangers chairman Dave King then confirmed talks over a potential Ibrox buyout, claiming the sale would form part of his ‘legacy’ in Glasgow.
49ers Enterprises chief Paraag Marathe was coy on Rangers takeover talk but did admit that the NFL giants were looking to add more clubs to their sporting stable.
The 49ers recently completed a takeover of Leeds United and have the fallen English giants on track for Premier League promotion this season.
US takeover of Rangers takes next step closer
Rangers are edging closer to a US takeover deal after the latest tranche of legal documents were signed.
That’s according to the Rangers Review and journalist Chris Jack, who now believe the multi-million pound deal could be complete by the end of May.
This comes after the key stakeholders in the deal received their first formal proposals at the beginning of the week starting 10th March.
A US consortium led by 49ers Enterprises chief Paraag Marathe and US healthcare tycoon Andrew Cavanagh are now ‘on the brink’ of taking charge in Glasgow.
The seismic buyout will see Rangers shareholders like Dave King, John Bennett and Barry Scott sell-up whilst other key players have agreed to sell part of their Ibrox stake.
With the Americans set to take a 51% stake in Rangers, it is also believed they will appoint at least two new figures to the Rangers board.
The news comes after the US takeover of Rangers was ‘agreed in principle’ at the beginning of March.
‘Leeds could soon be a Rangers feeder club’
The US buyout of Rangers is set to bring sweeping change to the Ibrox boardroom as the Gers look to realise their untapped potential.
Marathe has shot down suggestion Rangers could become Leeds’ feeder club with the Ibrox side failing to match the ambitions of supporters in recent seasons.
Recent comments from Marathe about stadium expansion have also raised eyebrows at Ibrox.
With fresh investment on the horizon, Rangers fans are excited about the possibilities both at home and abroad and it’s a sentiment echoed by club legend Graeme Souness.
In a recent interview with the Daily Mail, such is the potential of Rangers the Ibrox legend reckons Leeds could soon be the Ibrox club’s feeder club, and not the other way around.
| Rangers | Leeds United | |
| Stadium (capacity) | Ibrox Stadium (51,700) | Elland Road (37,890) |
| Founded | 1872 | 1919 |
| Takeover value (stake) | £100m (51%) | £170m (56%) |
| Division | Scottish Premiership | English Championship |
| European competition | Europa League | N/A |
| League titles (domestic trophies) | 55 (117) | 3 (5) |
| Europeans trophies (European Finals) | 1 (5) | 2 (5) |
“Any prospective buyer of Glasgow Rangers will quickly understand that they are not just buying a football club – they are buying an institution,” explains Souness.
“If it were to be the 49ers, there’s early talk that that Rangers could be a feeder club for Leeds.
“But if they were to take Rangers up a few more rungs, I believe it could the other way around. There’s such huge potential to take this club to another level.”
