RANGERS Takeover: An agreement with American investors Andrew Cavenagh and San Francisco 49ers Parag Marathe in principle agreed | Football news
The deal taken over by US investors are contractual in principle.
The conversations are ongoing since the end of October and there is increasing confidence on all sides that it will be over ahead of the new season.
Now the period of deep check takes place, while legal paperwork is made.
Parag Marathe – President of the San Francisco 49ers, 49ers Enterprises’ investment hand president – is one of two key figures in downloading. He works together with the tycoon of health insurance Andrew Cavenagh, who is the executive president of Paretohealth.
The US group aims to acquire at least 51 percent of the Rangers shares and take control of Ibrox Board.
Rangers’ biggest shareholder Dave King is among the key data that is ready to sell their share of the club. King has a 12.96 percent stake, and one source has suggested that 49ers are one of three serious parties to access the former Ibrox President for investing in the club.
Douglas Park (11.54%), George Taylor (10.22%), Stuart Gibson (9.53%), Julian Wolhardt (9.53%), John Halsted (9.53%) and John Bennett (7.11%) are among others who are willing to part of them or some of them.
It is understood that the conversations have also taken place on guaranteed future investments, with the final figure determined on the basis of variables such as European advancement and trading players.
Last year Rangers recorded a loss of £ 17.2 million and are Currently 16 points behind Celtic In the Scottish Prime Minister, From Scottish cups and Lost League Cup Finals their old companies rivals. They are still in the Europe League – with the last 16 years against Fenerbahce Jose Mourinho.
Who are investors?
Marathe is in San Francisco 49ers at the age of 24 and is the president of the NFL investment hand, 49ers Enterprises. They are set for monitoring outside of business ventures and great investment options for the club. Marathe is also the executive vice president of the 49ers football operations.
Forbes estimated 49ers companies at £ 5.7 billion ($ 7.2 billion) just a few months ago, and Rangers would be the second British club in which the NFL Giants invested after they originally purchased a small share in Leeds United, Before the ending of 2023 is completed.
Cavenagh is the co -founder of the American Paretohealth – which manages around £ 5.2 billion ($ 6.6 billion) of property and covers more than one million lives in thousands of business.
Earlier this year, Paretohealth announced that Cavenagh had stepped down as an executive director of the US company, although he added that he would continue to help the company through his role as the executive president.
The involvement of Cavenagh in Ibrox could be crucial in ensuring that the ownership of the Scottish FA is not an obstacle to the US duo – with Marathe and the 49ers limited to 29.9 percent of their including Leeds.
What are they looking for?
Marathe – who refused to confirm whether the 49ers companies spoke with the Rangers – he added that they “always look at other options.”
“I can’t really comment on all the rumors there,” he told Football Financing Summit. “But as I said, we always look at other options. We were.
“And I think it’s feasible to repeat passion [he has for Leeds].
“What we are looking for are clubs with right costumes, clubs with the right history of success. Clubs with the right potential for growth, and if you are sports and love it and treat it as a way of life, so to speak, as I do, then there is absolutely enough space in your heart.
“Just as you need to love all your children, there is enough space in your heart to love all your sports properties.”
Can the Rangers become a Feeder Club?
A short answer to that is no. Asked if the 49ers will consider a multi-germ model with Leeds as Cornestone Club, he added: “Multi-club from an point of view like a club hierarchy that other people may do-this is really not how we look at it.
“Leeds Utd is alone and if we watched or followed another club, that club would stand independently.
“Is there a scale of a scale of use from leadership and ownership of multiple clubs? Absolutely with what you can share and work on the commercial side. Even sometimes what you can do on the sports side.
“We didn’t think that because one club is a garlic club another. Every club deserves all our attention and effort.”
Other premiere clubs under US ownership
Hibernial The Gordon family owned, and the late Ron Gordon gained a majority stake in 2019. Another American, Bill Foley, joined that ownership group last year After insurance 25 percent of the club.
Last July US lawyer and shareholder Cambridge United Adam Webb finished download St JohnstoneWith the move supported by both SFA and EFL.
Dundee is owned by the American Business Tim Keyes, while the city rival Dundee United They are owned by Marko Ogren.
Aberdeen They are also owned by the American Scottish businessman Dave Cormacka, and Atlanta has earned a minority stake in the club in 2019 at the club.
