An American consortium that includes the San Francisco 49ers is believed to be moving closer to agreeing a substantial investment into Rangers. The deal is being led by Paraag Marathe, an executive who leads the venture capital arm of the 49ers NFL team, but also includes members who have not yet been named.
49ers Enterprises already has a controlling stake in
Leeds United after taking control at Elland Road in 2023 in a £170
million deal. Marathe is chairman at the Yorkshire club.
Talks are at a relatively advanced stage and may pave the
way for an agreement to be announced in the coming months. There is potential
for the consortium to attempt to buy out other Rangers investors and build up
its stake in the Ibrox club over time..
Rangers already has a US presence in its boardroom and on
its shareholder register. John Halsted,
a Wyoming-based private equity investor, has been a non-executive director
since August 2023. He originally bought shares during 2021 through his family
firm Perron Investments and has a 6 per cent stake.
Rangers’ most recent accounts showed a £17.2million loss
while Celtic published almost the same figure as profit as well as having £65m
in the bank.
The size of Rangers’ international support, particularly in
North America and Australia, makes them a brand which is attractive to Marathe
and his group, especially as they have almost guaranteed access to at least the
Europa League every year.
Around the Elland Road fanbase there is some confusion and
concern about Marathe being distracted by Rangers when, in their mind, he
should be concentrating only on getting Leeds back into the Premier League.
Even more concerning, for some, is the possibility of Marathe and 49ers
Enterprises selling all of Leeds to Red Bull, who already have a 10 per cent
stake, and buying Rangers instead.
When Rangers are so eager for investment a buyout by
sensible American investors is enormously appealing for supporters, but a deal
would not be straightforward. The club’s ownership is fractured. Former
chairmen Dave King, Douglas Park and John Bennett, as well as George Taylor,
Stuart Gibson, Julian Wolhardt and John Halsted, all control stakes of between
7-12 per cent and –– to put it politely –– their interests are not all aligned.
Because of the Leeds United factor, approval for dual ownership would be
required from the Scottish FA although that is not likely to be a problem.
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