When Rangers takeover is likely to be finalised as possible date confirmed with 49ers group moving forward

Rangers have been in ongoing discussions with 49ers Enterprises since the end of October over a takeover deal of the club - and a date for when the deal could be completed as seemingly been revealed.

It emerged last month that a US consortium, spearheaded by Leeds United chairman and 49ers group president Paraag Marathe and insurance businessman Andrew Cavanagh, were in ‘advanced talks’ with Ibrox chiefs over a proposed purchase of 51 per cent of the shareholding.

Any deal would need to be rubber-stamped by the Scottish Football Association due to Marathe already having a majority stake in the EFL Championship leaders, but the news of potential investment has raised spirits of the start of a new era in Govan.

They were also knocked out of the Scottish Cup after a humiliating 2-1 defeat at home to Queen’s Park and have lost their past two league matches at Ibrox to St Mirren and Motherwell.

Last year, Rangers posted a loss of £17.2 million in their latest accounts. They are searching for a new manager after parting ways with Philippe Clement - a role currently filled by club legend Barry Ferguson on an interim basis until the end of the campaign.

When Rangers takeover will be finalised and what has been said?

While no exact date has been confirmed, Rangers Review have reported that the multi-million-pound transaction is on course to be completed by the end of May. They claim that high-level negotiations continue behind the scenes after discussions over the blockbuster move initially started in October.

The Rangers takeover deal has apparently moved a step closer to completion after the key parties received their first tranche of the legal paperwork. This is required to bring about regime change at Ibrox as confirmed by the initial article.

The proposed bid for Rangers is the latest in a growing list of clubs in Scotland being owned by US businessmen. Bill Foley’s Black Knight’s group have a tie-up with Hibs, who were purchased by the American family the Gordons in 2019. In addition, Dundee (Tim Keyes), Dundee United (Mark Ogren) and St Johnstone (Adam Webb) are all based in America, while Aberdeen supremo David Cormack - originally from Scotland - is resides in Atlanta, Georgia.

Rangers 'agreement in principle' reached with 49ers group

Sky Sports broke the news earlier this month that a deal for Rangers to be taken over by hugely experienced US investors Cavenagh and Marathe has been ‘agreed in principle’.

It’s claimed that that a period of due diligence is currently taking place as legal paperwork is drawn up, while conversations have also taken place around guaranteed future investment, with the final figure to be determined based on variables such as progression in Europe and player trading.

Should the US group finalise terms with the current major shareholders and take 51 per cent, they will take full control of the boardroom.

Marathe, who recently attended the Gers’ Europa League tie against Manchester United at Old Trafford, is president of San Francisco 49ers investment arm while Cavenagh is the executive chairman of health insurance company ParetoHealth in the United States, but is due to step down from his role.

What has Paraag Marathe said about potential takeover of Rangers?

Neither Cavenagh or Marathe have directly addressed rumours of any possible investment in Rangers, but the latter has recently discussed whether the 49ers would look to expand their portfolio in the near future.

Speaking at the Financial Times Business of Football Summit last month, Marathe said: “I can’t really comment on whatever rumours might be out there.

“But like I said, we are looking at other opportunities. It is doable to replicate the passion (of Leeds). What we are looking for is clubs with the right bones, clubs with the right history of success and clubs with the right potential for growth.

“And if you are a sportsperson, and you live it and treat it as a way of life, so to speak, like I do, then absolutely there is enough room in your heart to love all your sports properties. Just like there is to love all of your children!”