Rangers takeover involving 49ers could be completed by June

Leeds United chairman Paraag Marathe is a key player in negotiations

A takeover of Rangers involving the San Francisco 49ers' investment wing is expected to be completed between April and June, sources close to negotiations have said.

There is "broad agreement" between all parties, with current shareholders expected to sell all, or part, of their stake in the club in the coming months.

The prospective owners would acquire more than 50% of the Rangers shares while taking on the debt, much of it owed to former chairman John Bennett.

The Ibrox club trail Celtic by 13 points in the Scottish Premiership and are out of the Scottish Cup after a hugely disappointing defeat by Championship side Queen's Park earlier this month.

Off the field, they posted a net loss of £17.2m in October 2024 despite what they called record revenue and income figures for the year to June.

Paraag Marathe, the Leeds United chairman and the force behind 49ers Enterprises, the investment wing of the 49ers NFL franchise, is a key player in the prospective Rangers takeover.

He has been described by a source familiar with the negotiations as "front and centre", but there is an as-yet-unnamed investor who is said to be as influential in the deal as Marathe.

As 49ers Enterprises has full control of Championship leaders Leeds after a £170m takeover in July 2023, any investment would require approval from the SFA's board.

It is understood that Dave King, the largest individual shareholder in Rangers, is supportive of the takeover.

The South Africa-based businessman spoke last year about how he believed "investor fatigue" had set in at the Scottish Premiership club.

While other members of the board have not seen eye to eye with King on many issues in the recent past, there appears to be general agreement on the need for new energy and new money at the club.

The current Rangers board see Marathe and his team as "serious people" who have a track record in reviving underperforming sporting institutions, which is how they see Rangers in a changing footballing landscape.

Conversations about selling Rangers have been happening in private since the second half of 2023.

Since that point, there has been a growing acceptance at the club by those in charge that they were "running out of road" in terms of energy and finance.