An agreement for the Rangers to be supported by American investors has been agreed in principle.
Discussions have been continuing since the end of October and there is growing confidence on all sides it will be completed before the new season.
A period of reasonable diligence now takes place, while legal documents are written.
Paraag Marathe – President of San Francisco 49ers Investment Arm, The 49ers Enterprises – is one of the two key personalities of the takeover. He works alongside the Andrew Cavenagh health insurance magnate, which is Executive President of Paretohealth.
The American group aims to acquire at least 51% of the actions of the Rangers and to take control of the Ibrox conference room.
The largest shareholder in the Rangers, Dave King, is one of the key characters who are ready to sell his participation in the club. King has a 12.96% participation and a source suggested that the 49ers were one of the three serious parties to approach the former president of Ibrox on the investment in the club.
The largest unique shareholder in Rangers, Dave King, has agreed to sell its shares to the American group
Douglas Park (11.54%), George Taylor (10.22%), Stuart Gibson (9.53%), Julian Wolhardt (9.53%), John Halsted (9.53%) and John Bennett (7.11%) are among the others wishing to separate from all their shares.
It is understood that conversations have also taken place around guaranteed future investments, the final figure to be determined on the basis of variables such as European progression and trading of players.
Last year, the Rangers displayed a loss of 17.2 million pounds sterling and are currently at 16 points behind Celtic in the Scottish Premièship, outside the Scottish Cup and lost the League Cup final against their rivals of the old company. They are still in the Europa League – with a draw in the last match against Fenerbahce by Jose Mourinho.
Who are investors?
Paraag Marathe is president of Leeds United
Marathe is his 24th year at the 49ers of San Francisco and president of the NFL investment branch, the 49ers Enterprises. They are set up to supervise external commercial companies and the main investment opportunities for the club. Marathe is also the executive vice-president of football operations for the 49ers.
The 49ers enterprises were valued at 5.7 billion pounds Sterling ($ 7.2 billion) by Forbes just a few months ago and the Rangers would be the second British club in which the NFL giants invested, after initially bought a small participation in Leeds United, before completing control in 2023.
Cavenagh is co-founder of Paretohealth based in the United States-which manage approximately 5.2 billion pounds sterling (6.6 billion dollars) in assets and cover more than a million lives in thousands of companies.
The American health magnate Andrew Cavanagh (L) was in Ibrox in January while the Rangers faced St Johnstone
Earlier this year, Paretohealth announced that Cavenagh is recovering as the leader of the American company, although he added that he would always help the company through its executive president.
Cavenagh’s involvement in Ibrox could be essential to ensure that the Scottish property rules FA are not an obstacle for the American duo – with Marathe and the 49ers limited to a 29.9% participation due to their involvement in Leeds.
What are they looking for?
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Marathe says that the 49ers “envisage opportunities” after emerging that American investors are working on a takeover of several million pounds from Rangers
Marathe – who refused to confirm whether the 49ers enterprises were in talks with the Rangers – added that they “still looked at other opportunities”.
“I can’t really comment on the rumors that could be there,” he told Financial Times Business of Football Summit. “But as I said, we always examine other opportunities. We have been.
“And I think it is doable to reproduce passion [he has for Leeds].
“What we are looking for are clubs with good bones, clubs with the good story of success. Clubs with good growth potential and if you are a sportsman and you love it and you treat it as a lifestyle, so to speak, like me, then there is enough room in your heart.
“Just as there is to love all your children, there is enough room in your heart to love all your sporting properties.”
Could Rangers become a food club?
The short answer to this is no. When asked if the 49ers would consider a multi-club model with Leeds like the Cornerstone Club, he added: “Multi-club from the point of view of the hierarchy of clubs that maybe other people-it is not really how we look at it.
“Leeds UTD is alone and if we had to watch or continue another club, this club would remain alone.
“Are there money savings to have leadership and property of several clubs? Absolutely with what you can share and do on the commercial side. Sometimes sometimes what you can do on the sporting side.
“We have not considered it because a club is a food club for another. Each club deserves our full attention and our efforts.”
Other Prime Minister clubs under the American property
Bournemouth owner Bill Foley obtained a 25% stake in Hibernian last year
Hibernian belong to the Gordon family, with the late Ron Gordon, acquire a majority participation in 2019. Another American, Bill Foley, joined this property group last year after obtaining a 25% stake in the club.
Last July, the American lawyer and the shareholder of Cambridge United, Adam Webb, completed his control of St JohnstoneWith the movement supported by SFA and EFL.
Dundee belong to the American businessman Tim Keyes, while the city competes Dundee United belong to Mark Ogren.
Aberdeen Also belong to the Scottish businessman based in the United States, Dave Cormack, in Atlanta acquiring a minority participation in the club in 2019.
