Rangers takeover appears to be in its final stages with an agreement reached with the San Francisco 49ers.
This agreement with the NFL side is one in principle only and there is a legal framework that needs to be followed before the deal can be completed.
The Americans are eyeing a 51 per cent controlling stake in the Ibrox outfit with them keen on making it happen as soon as possible.
Gers takeover now only a matter of weeks
Daily Record journalist Keith Jackson broke the initial takeover story and has issued an update on the rubber-stamping of the deal.
He claims that things are now with the lawyers and while he’s not sure how long the rubber stamping will take exactly, it’s understood to be weeks rather than months.
On March 3, Jackson stated, “It’s with the attorneys; how long it will take to finesse everything and get it rubber-stamped, I’m not sure. But I’m firmly informed that it’ll be weeks rather than months.”
The transaction is known to be complex, but the fact that an agreement has been reached indicates that it is in its advanced stages.
Paraag Marathe and the 49ers are anticipated to purchase Rangers without any significant obstacle.
As the agreement progresses from principle to conclusion, the next steps in Gers’ takeover are likely to include completing due diligence and concluding legal documents.
Paraag Marathe and his team will do due diligence on Gers’ financials, contracts, and liabilities to ensure there are no hidden dangers, while lawyers will create papers to obtain the 51% controlling interest.
Regulatory permission from the SFA and English Football League (EFL) is still required due to Paraag Marathe’s Leeds United ties, but both authorities are unlikely to oppose it.
The process appears to be moving quickly because an agreement has been made with current shareholders such as Dave King and John Bennett, who are willing to sell, and the deal’s intricacy is already being managed.
This advanced level, combined with the 49ers’ apparent goal and resources, indicates a strong push for completion.
