Ahead of a historic buyout at Ibrox, Rangers and the 49ers Enterprises company are getting closer to concluding takeover negotiations.
On February 19, it was revealed that the American investment fund, which also owns Leeds United and the San Francisco 49ers, had been in months of negotiations with the Ibrox hierarchy about a takeover.
The current Leeds chairman, Paraag Marathe, is in charge of the 49ers’ operations, and even if Rangers may adopt a multi-club format, there is hope that a revolution is on the horizon in Govan.
The most recent report gives a timeline for when takeover negotiations could be finished. The negotiations have advanced over the last few months and are expected to continue toward the end of the current season.
49ers Enterprises and Rangers are “close” to signing a takeover deal.
Journalist Ben Jacobs gave a fresh update on the status of negotiations between the 49ers and Rangers as a takeover deal draws closer and closer on talkSPORT (February 21, 12:05 p.m.).
Jacobs said: “Talks between Rangers and a consortium including 49ers Enterprises are termed ‘advanced’, and there is something close to an agreement in principle for at least a majority takeover.
“There are other investors involved, so we don’t know the specific stake of 49ers Enterprises, but the expectation is a deal here is going to get done by April at the earliest and the summer at the latest.
“The Rangers have enormous intentions. Naturally, the club is drawn to the simple path to European football, ideally the Champions League, and the potential to further renovate Ibrox.
It’s anticipated to cost more than £50 million, which includes inheriting the debt, making it a comparatively significant expense. Given that [the] club is worth well over £100 million, 50% will be over £50 million.
Rangers at Ibrox are about to enter a new era.
Jacobs’ update implies that after a seemingly endless cycle of potential takeover talks at Ibrox turning out to be nothing but bluster, the 49ers are already laying the path towards a new era at Rangers.
With the Americans expected to assume majority control, an antiquated board that is far past its useful life and has grown progressively unpopular with Rangers supporters may soon be replaced.
A number of well-known Ibrox shareholders would undoubtedly leave if other investors joined the 49ers’ bid, which implies that far over 50% of the team might be purchased.
49ers Enterprises will have the most clout in the boardroom right away after purchasing more than 50% of the club’s shares, something that took them nearly five years to do in West Yorkshire.
Fans will undoubtedly welcome a complete overhaul at Ibrox in terms of brand-new redevelopments following last summer’s Copland Road Stand disaster, and improvements on and off the field will undoubtedly result from the club receiving at least £50 million and additional funding in the future.
