Scottish club Rangers FC is on the verge of closing a purchase deal with the owners of the San Francisco 49ers, who would acquire a majority stake in the Glasgow outfit, according to ‘Sky Sports’. The move comes after months of negotiations and at a delicate time for the club, which is 16 points behind Celtic in the Scottish Premiership, but about to face Fenerbahce in the round of 16 of the Europa League.

According to ‘Sky Sports’, 49ers Enterprises, the investment arm of the NFL franchise owners, has reached a preliminary agreement to buy at least 51% of the club’s shares. The due diligence process will begin soon, and Dave King, the Rangers’ largest shareholder, is expected to sell his stake as part of the deal. In addition, other investors have also shown interest in selling their shares.

49ERS LOOK TO EXPAND CLUB PORTFOLIO

49ers Enterprises already has experience in football club management, owning Leeds United, where its chairman, Paraag Marathe, holds the position of chairman at Elland Road. Marathe, along with Andrew Cavenagh, executive chairman of ParetoHealth, is leading the financing of this deal to acquire Rangers.

During the Financial Times Business of Football Summit, Marathe would not confirm the acquisition of Rangers, but did acknowledge that the group is exploring new investment opportunities. “I can’t comment on rumors that may be circulating,” Marathe said. “But we are looking at other opportunities. It is possible to replicate [Leeds United’s] passion. What we are looking for are clubs with a good foundation, history of success and potential for growth.”

CONCERNS ABOUT RANGERS’ FUTURE

Some fans have expressed concern that Rangers could become a subsidiary club of Leeds United if the deal is finalized. However, Marathe dismissed this idea, assuring that both clubs would operate independently. “Leeds United is an independent club, and if we looked at another club, it would also be independent,” he said. “What can be shared and done on a sporting level does not imply that one club is a subsidiary of another. There is enough room in the heart to love all your sporting properties.”