Rangers are preparing to enter a new era as 49ers Enterprise sit on the cusp of a groundbreaking takeover at Ibrox.
49ers Enterprises have been celebrating Leeds United’s promotion and will now turn their attentions to finalising the deal to take over at Rangers.
Despite reports of a potential snag with one controversial shareholder, the outline of the deal for 51% of Rangers to be sold to US investors has already been ‘secured’.
And whilst Sandy Easdale looks set to retain his 2.25% shareholding at Ibrox, so do one fans group for who have seen a troubled few years at Ibrox.
What is Club 1872’s role in Rangers takeover?
Club 1872 were set up with the intention of Rangers fans holding a major shareholding in the club’s operations with the message ‘never again’ following the financial collapse of 2012.
The ownership concept behind Rangers was initially supposed to see a number of investors own around 10% of the club with Club 1872 a fan-representative vehicle who would buy up stocks with fan investment. The group’s current membership stands at 4900.
In the last few years, Club 1872’s shareholding has shrunk to around 4% after a series of share issues despite Dave King trying to sell his shares through Club 1872 back in December 2020.
This ended in failure in December 2022, with Dave King describing the 49ers sale as his Ibrox ‘legacy’ after wrestling the club back into supporter hands in 2015.
Since then there has been little communication from the group, who continue to hold substantial shareholding despite a deterioration in their relationship with the Ibrox board.
Many fans have wondered if the US takeover deal involves the shares of Club 1872 but the Rangers Review have clarified the organisation’s position.
The outlet claims that Club 1872 will retain their shareholding but that the group’s situation remains unclear.
It is assumed the change of regime might raise some optimism of an improved relationship with Rangers in the weeks and months ahead.
Whose Rangers shares are 49ers Enterprises purchasing for takeover?
The question then is who will be selling their Rangers shareholding to 49ers Enterprises and Andrew Cavenagh?
Former Rangers chairmen Dave King (12.96%) and John Bennett (7.11%) are believed to be ready to sell their shareholdings (20.07%) to the US investment firm.
The remaining 31% will be made up of sales from the other investors, although at present it is not clear how much each will be willing to part with to agree the deal.
The rest of Rangers’ shareholding is made up largely from another five investors.
The shareholding of Douglas Park (11.54%), George Taylor (10.22%), Stuart Gibson (9.53%), Julian Wolhardt (6.69%) and John Halstead (6%) make up around 43% more of the club’s shareholding.
Deals with these separate investment partners are required to bring the takeover to the necessary 51% shareholding, with the particulars to be made public after the takeover is complete.
