Rangers takeover nears completion

The takeover of SPFL football club Rangers by 49ers Enterprises, the investment arm of the San Francisco 49ers, is expected to be finalised between April and June this year.

The deal will see the prospective owners acquire a majority stake in the iconic Glasgow-based football club and assume existing debt.

49ers Enterprises has been in negotiations to secure more than 50% of Rangers’ shares, with current shareholders expected to sell all or part of their holdings in the coming months.

As part of the deal, the group would take on the club’s debt, which includes sums owed to former chairman John Bennett.

The Scottish Premiership side has been facing financial difficulties, reporting a net loss of £17.2m in October 2024, despite record revenue figures for the year ending in June.

On the pitch, Rangers have fallen 13 points behind Celtic in the league and were eliminated from the Scottish Cup by Queen’s Park earlier this month.

Paraag Marathe, Chairman of EFL Championship club Leeds United and a leading figure in 49ers Enterprises, has been central to the negotiations. The investment group took full control of Leeds United in July 2023 following a £170m deal, and any investment in Rangers would require approval from the Scottish Football Association.

Discussions over a potential sale have been ongoing since the second half of 2023, with key figures at Rangers increasingly recognising the need for new financial backing. Dave King, the largest individual shareholder, has been supportive of the deal, previously highlighting concerns over “investor fatigue” at the club.

The current Rangers board has viewed 49ers Enterprises as credible investors with experience in turning around underperforming sporting organisations. While internal differences have existed among key shareholders, there has been broad agreement on the need for fresh investment.