The San Francisco 49ers appear to be closing in on a Rangers takeover, as events have gathered momentum over the last two days.
Despite the Ibrox outfit’s divided ownership structure, some shareholders appear to be in favor of completing the transaction.
With so much going on and being reported regarding the takeover, Ibrox News has compiled a comprehensive update on the subject.
SFA clears the way for the takeover to be completed
The 49ers have made their first major breakthrough as they work to complete the takeover.
Despite his position as chairman of Leeds United, Paraag Marathe has been granted permission by the SFA to proceed with the transaction. [Daily Record].
It may have posed a challenge due to dual-ownership restrictions, although that issue is more likely to arise if both teams compete in the same UEFA competition.
San Francisco 49ers now want a 51% controlling stake in Rangers.
The NFL team is expected to take over ownership of the Ibrox club in the coming months.
The Athletic claimed on February 21 that the 49ers want to buy a 51% stake in the team.
This would give them a controlling position, and many Glasgow Giants shareholders are eager to sell their shares.
Ibrox matchday experience is a priority for Paraag Marathe aims to improve the matchday experience for fans at Ibrox.
According to Give Me Sport insiders, one of his first goals after the takeover is completed is to modify it.
Detailed plans have not yet been published, but he clearly intends to work on it.
Dave King’s Gers shares are expected to be sold to the San Francisco 49ers.
Dave King is willing to sell his portion of the club in order to allow for new ownership.
He hopes his sale to Maraathe will be the “lasting legacy” of his time with the Ibrox club.
King expects that the club’s other shareholders will follow suit and allow the 49ers to become majority owners.
He additionally stated: “I believe that the present investors have ‘investment fatigue’ and that any new investor should be of unquestionable wealth to not only inject much-needed funds into the club immediately, but also have funds in reserve to support the rebuilding programme that will be required both on and off the pitch.”
The former Gers chairman also indicated that, while no contract has been reached, things are going nicely.
