Rangers takeover deal 'agreed in principle' by US investors

A deal to take over Rangers Football Club by a group of US investors has been “agreed in principle”.

Led by Paraag Marathe, head of investment for the San Franciso 49ers American football franchise, the buyout would see 51% of the club acquired by the American consortium.

It’s understood Dave King, the single largest shareholder at Rangers, is set to sell his stake in the club.

The parties hope to complete the deal before the end of the season or during the summer, STV News understands.

Talks began in October last year but are now at an advanced stage and the consortium has progressed further than any other interested parties over the last decade.

Who is involved?

The identity of everyone involved in the American consortium isn’t known yet, but the group is being led by US businessman Paraag Marathe.

He’s the chairman of Leeds United and the president of 49ers Enterprises as well as being executive vice president of football operations.

49ers Enterprises is a company that manages all of the sport and entertainment assets and investments of the NFL giants, who are one of the biggest brands in sport and have been valued at $9bn.

The company has a diverse range of investments already, including data and tech businesses, a huge sports agency and some other sporting interests including English football club Leeds United.

A source previously told STV News that while Marathe is at the front of the group of business people looking to buy Rangers shares, it’s understood this isn’t a formal move by 49ers Enterprises.

Who owns Rangers?

The ownership of Rangers is currently shared among a number of different individuals and groups.

Former chairman Dave King is the largest individual shareholder with a stake of 12.96%. Douglas Park owns 11.54% and George Taylor holds 10.22% of the shares.

Stuart Gibson holds 9.53%, while John Bennett, who stood down as chairman last year for health reasons, has 7.11%.

Borita Investments and Perron Investment, owned by directors Julian Wolhardt and John Halsted respectively, hold a combined 12.69%, and fans group Club 1872 has approximately 5% of the shares.

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