The rumours have been ongoing for a while now but Leeds United chairman Paraag Marathe and The 49ers now look set to complete a takeover of Rangers with a deal agreed in principle.
Paraag Marathe has been in situ at Elland Road for a while now but was only officially confirmed as the club’s chairman in the summer of 2023, when The 49ers agreed a deal to buy Andrea Radrizzani’s shares.
The 49ers’ Enterprises are in complete control at Leeds now, and The Whites have certainly benefitted. It seems less chaotic upstairs than it has been for decades, following Radrizzani, Massimo Cellino and more.
However, it appears The 49ers are not simply done with Leeds when it comes to football in the United Kingdom. Indeed, Marathe and The 49ers are closing in on a deal to acquire a majority share in Rangers.
Sky Sports deliver update as Paraag Marathe closes in on Rangers
On Monday, an update emerged in Marathe’s pursuit of Rangers. Reports have already determined that the take over at Ibrox will not impact anything ongoing at Leeds, but as a different entity entirely.
Sky Sports reporter Gordon Duncan says that a deal for Marathe and The 49ers has now been agreed in principle. There is a confidence that a deal will be completed at Ibrox before the start of next season.
Duncan said on Monday: “It now looks like those takeover talks are heading in the right direction. A deal agreed between both parties, and a confidence that a deal could be done before the start of next season.
“It involves the chairman of Leeds United, Paraag Marathe – the president of San Francisco The 49ers’ investment arm, The 49ers Enterprises. They are looking for 51% to take control of the board room.
“Talks have been ongoing since October and now, a deal is agreed in principle. A period of due diligence is now expected, but it is heading in the right direction. A takeover probably in time for next season.”
Why Paraag Marathe is pushing for Rangers take over
From a Leeds perspective, the timing does seem odd when Marathe is likely to be incredibly busy at Elland Road come the summer. Leeds are closing in on promotion to the Premier League, currently first.
A busy summer of transfer activity, coupled with plans to redevelop and increase Elland Road are on the horizon. Yet, Marathe is pushing to take control of one of Britain’s most-historic sides too, in Rangers.
Reports say The 49ers like Rangers as they boast similar qualities to Leeds given their solid fanbase. But also, that they are basically guaranteed European football every year, with a price tag of around £100m.
The 49ers are also keen to build a multi-club model similar to Manchester City, who are paired with the likes of Girona and Troyes. It might be that Rangers is only the second of a number of major investments.
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