Scottish football club Rangers FC are reportedly in the midst of a change of ownership as 49ers Enterprises are in advance talks to acquire the club.
The owners of the NFL franchise – San Francisco 49ers – reportedly began talks with Rangers ownership several months ago with a “multi-million pound” fee being floated around the sale of the club.
Rangers is a publicly traded company under the filing of Rangers International Football Club plc., and it is unknown as of yet whether 49ers Enterprises intends to turn the club private or become a majority shareholder.
The top three shareholders of the Scottish football club consists of New Oasis Asset Limited first (12.96%) Douglas Park second (11.54%), and George Alexander Taylor in third (10.22%), according to the club’s website.
49ers Enterprises is the lead entity as part of a consortium proposing a takeover of Rangers. Paraag Marathe, President of 49ers Enterprises, is also the current Chairman of English Football League club Leeds United.
The California-based investment group continually increased its shares in Leeds until a complete takeover of the club in July 2023. Since its acquisition of Leeds, it has brought onboard Red Bull to become the club’s primary sponsoring partner and has renewed its kit deal with Adidas.
Rangers are the most successful football club in Scotland with 55 top-flight league titles, one ahead all-time of their fierce rivals Celtic.
The club however underwent a financial crisis in 2011, falling into administration after ending up in huge debt. Rangers were even relegated to the fourth-tier of Scottish football after being rejected by other Scottish Premier League teams to rejoin the top-flight under a new licence.
Despite this, the club rebounded under Rangers International Football Club plc., winning its first league title since administration in 2021. Rangers also finished runners-up in the 2022 UEFA Europa League final.
Rangers fans will hope that new owners may indicate new financial opportunities to help compete against Celtic in the league whilst also remaining competitive in European competitions.
