The takeover is getting closer, and an update has emerged on their attitude on key decision-makers.
It will be a new era at the Rangers once the San Francisco 49ers’ takeover is finalized, but it may be a gradual transformation at the boardroom level, since their opinion on CEO Patrick Stewart and chairman Fraser Thornton has surfaced.
It’s been an unbelievable season of upheaval at Ibrox, with Stewart and Thornton taking over as managers late last year after John Bennett left. The new leadership team hesitated before firing Philippe Clement, but finally did so in February, replacing him with an interim coaching staff led by Barry Ferguson.
All of this occurred against the backdrop of Record Sport’s bombshell exclusive, which revealed that an investment company sponsored by the San Francisco 49ers is in advanced talks to purchase a majority position in the Ibrox club. That is expected to be completed by the summer, with Leeds United chairman Parag Marathe spearheading the takeover.
According to the Daily Mail, the US consortium’s initial intention is to keep both Stewart and Thornton in place in the immediate aftermath of the deal, potentially signaling an intent to manage from a distance to begin with. However, he will not be taking on the same role at Rangers that he holds at Elland Road – at least for the time being. This would be similar to the approach they took with Leeds United, gradually increasing their involvement from fractional par.
Record Sport understands that the 49ers-led investment group intends to become the club’s single largest shareholder from the start. Former chairman Dave King owns about 13%, Douglas Park owns nearly 12%, George Taylor owns slightly more than 10%, Stuart Gibson is not far behind, and John Bennett owns approximately 7%. Directors Julian Wolhardt and John Halsted have a combined shareholding of little more than 12%.
Their own choices in key positions, such as CEO and chairman, are expected in due course, but it appears they have no plans for an immediate change, with Stewart and Thornton still in their first years with the club.
