King, who holds a 12.96% stake in Rangers through his New Oasis Asset Company, has been in discussions since October 2024 to sell his shares to the American consortium led by Paraag Marathe, chairman of Leeds United and president of 49ers Enterprises. This move aims to introduce substantial investment and stability to the club.
King expressed his desire for this initiative to be his lasting legacy at Rangers. He emphasized the importance of bringing in a new, well-funded investor capable of providing immediate financial support and sustaining the club’s long-term rebuilding efforts. Despite the current board’s decision to decline his offer to return as chairman, King proactively sought investors who align with his vision and possess the necessary resources to become anchor shareholders.
The discussions have progressed constructively, with other shareholders expected to follow King’s lead in selling their stakes. If successful, this would enable the 49ers-led consortium to acquire more than 50% of Rangers’ shares and assume the club’s debt. The prospective owners plan to implement a data-driven scouting approach and have experience in stadium redevelopment, aiming to transform the club’s player-trading model and infrastructure.
Given Marathe’s involvement with Leeds United, the Scottish Football Association (SFA) would need to approve the takeover due to multi-club ownership rules. However, recent precedents suggest a favorable outcome is likely. The consortium’s commitment to providing the necessary finance and expertise is seen as a significant step toward restoring Rangers’ competitive edge in Scottish football.
King’s efforts reflect his commitment to ensuring Rangers’ future stability and success, aiming to leave a legacy that safeguards the club’s interests and positions it for sustained
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