The American consortium planning a Hollywood style buyout of Rangers was officially given the red carpet treatment at last month’s Europa League showdown with Manchester United.
The Daily Record can reveal San Francisco 49ers big hitter Paraag Marathe was one of a group of VIPs from the States invited to attend the Battle of Britain showdown by the same Ibrox board they are attempting to take over. And the fact that the red carpet was rolled out for Marathe and his men is the clearest indication yet of the strength of the willingness of the current crisis-hit regime to hand over power.
Our bombshell exclusive on Wednesday broke the news that a multi-million pound US-led bid was being financially backed by Marathe and the NFL giants and had entered into advanced stages. Rangers have so far refused to either confirm or deny that they are engaged in takeover talks. In a statement they said: ‘“It is not our policy to comment on speculation. If there were any such discussions, these would remain confidential.”
But the picture we have published – taken during the Thursday night clash on January 23 – shows Marathe watching on from the posh seats as Philippe Clement’s side was going down to an agonising late defeat.
Marathe has teamed up with at least one high net worth individual to put the bid together and sources in London believe an agreement is now imminent. The NFL high flyer heads up 49ers Enterprises – who shelled out £170m to complete a 100 percent takeover of Leeds United less than two years ago.
Earlier, it emerged former chairman Dave King is among the first major shareholders looking to sell out to their group. King currently owns a 13 per cent share of the Ibrox club and he is now actively supporting the Americans as they thrash out the final details of a deal which could revolutionise the club.
It’s anticipated that another former chairman, John Bennett, is also prepared to accept the offer after being forced to step down from his position earlier this season through ill-health. Bennett currently owns a holding of little more than seven per cent.
But, according to experts in the city, the Americans will be looking to snap up even more shares in order to gain control of the boardroom. And there was a further boost for their proposals yesterday when we revealed that Scotland’s football authorities will not stand in their way – nor attempt to block the 49ers from taking control of the boardroom.
We understand the SFA have ‘no issues’ with the sensational buyout proposal, details of which we revealed exclusively on Wednesday night both online and in our agenda setting show Hotline Live. And that includes the potential for Marathe to take a seat on a new look Ibrox board even despite his current position with Leeds.
Hampden top brass have already cleared a similar appointment to clear the way for billionaire Brighton owner Bill Foley to become part of the current regime at Hibs, following an investment in the Easter Road club from the American’s Black Knight firm.
And that precedent all but guarantees that Marathe – who heads up 49ers Enterprises – would be officially cleared to take on a similar position if his US based consortium does sweep into power now that negotiations to buy out Rangers have entered advanced stages.
A source said: “There would be no reason for the authorities to put an obstacle in anyone’s path because Leeds and Rangers play in two different leagues and in two different countries.
“The SFA would only have an issue with dual ownership if it impacted on the integrity of football in this country. In more general terms, rather than look to block someone with such a proven track record coming into the Scottish game, we should be actively trying to encourage it.”
We dropped the bombshell news that Marathe is involved in these discussions as part of an American consortium which includes at least one other high net worth individual from across The Pond. They plan to pull off a multi-million pound deal which would transform the powerbase at Ibrox and pump significant funds into the club to finance a summer spending spree. Marathe and his partners plan to snap up enough shares to become the biggest single shareholder in the club and would be likely to demand seats in a new look boardroom.
It’s understood former chairman Dave King – who owns almost 13 per cent of the club – is among the current major shareholders willing to sell up. While Marathe has not played a leading role in the secret discussions it’s understood he has agreed to help fund the deal to oversee a revolutionary transfer of power in the Ibrox boardroom.
Sources down south believe Marathe’s legal team have already given him cast iron assurances that his position at the head of the Elland Road boardroom will not interfere with his ambitions to bring Rangers under the 49ers wing.
The situation, however, could become more complex at a UEFA level in the event that at any future stage both clubs qualify for the same European competition.