Rangers takeover deal ‘agreed in principle’ as American consortium to take control at Ibrox

Rangers takeover deal ‘agreed in principle’ as American consortium to take control at Ibrox

American businessman Andrew Cavenagh is leading a consortium along with Leeds United chairman Paraag Marathe to buy a controlling stake in the Light Blues

The consortium, led by American businessman Andrew Cavenagh joined by Leeds United chairman Paraag Marathe, is set to obtain a 51 per cent stake at Ibrox. (Image: Jay Barratt – AMA/Getty Images)

US investors are preparing to sweep to power at Ibrox as a takeover agreement has been “agreed in principle”.

 

American businessman Andrew Cavenagh is leading a consortium along with Leeds United chairman to buy a controlling stake in the Light Blues. Sky Sports reports that a deal that would see the consortium purchase 51 per cent of the club has now been agreed and legal paperwork being drafted.

 

Glasgow City Council warns of ‘worrying trend’ as third of primary pupils miss over 10% of school

Glasgow City Council warns of ‘worrying trend’ as third of primary pupils miss over 10% of school

Comments

Glasgow Easterhouse residents warn area is crumbling and people could be forced out

Glasgow Easterhouse residents warn area is crumbling and people could be forced out

Comments

Rangers takeover deal ‘agreed in principle’ as American consortium to take control at Ibrox

Rangers takeover deal ‘agreed in principle’ as American consortium to take control at Ibrox

Comments

Glasgow death remains ‘unexplained’ one week after woman’s body found in flat

Glasgow death remains ‘unexplained’ one week after woman’s body found in flat

Comments

East Kilbride arrest as disqualified driver in allegedly stolen car fails breath test

East Kilbride arrest as disqualified driver in allegedly stolen car fails breath test

Comments

Glasgow supervisor’s ‘breathtaking dishonesty’ in £30k scam caused clothes shop to close

Glasgow supervisor’s ‘breathtaking dishonesty’ in £30k scam caused clothes shop to close

Comments

Owners of Margaret Fleming murder plot fail to sell land as price slashed

Owners of Margaret Fleming murder plot fail to sell land as price slashed

Comments

Paisley alleged assault as man hospitalised and 22-year-old arrested

Paisley alleged assault as man hospitalised and 22-year-old arrested

Comments

Council chief executives in line for £19k salary increase despite huge tax rises and cuts

Council chief executives in line for £19k salary increase despite huge tax rises and cuts

Comments

Elderly patients forced to wait over 12 hours in A&E departments across greater Glasgow

Elderly patients forced to wait over 12 hours in A&E departments across greater Glasgow

Comments

Man found injured on Glasgow’s M8 as police close junction during rush-hour

Man found injured on Glasgow’s M8 as police close junction during rush-hour

Comments

Glasgow kids living in homeless accommodation exposed to ‘violence, vermin and unspeakable harm’

Glasgow kids living in homeless accommodation exposed to ‘violence, vermin and unspeakable harm’

Comments

Glasgow mum ‘terrified’ after being followed by man who tried to ‘guide her’ to dark underpass

Glasgow mum ‘terrified’ after being followed by man who tried to ‘guide her’ to dark underpass

Comments

Sister of schoolgirl murdered by Peter Tobin was inspired to become forensic science teacher

Sister of schoolgirl murdered by Peter Tobin was inspired to become forensic science teacher

Comments

Teenage girl and cop in hospital after Glasgow police car chase and crash

Teenage girl and cop in hospital after Glasgow police car chase and crash

Comments

Glasgow police seize £523,00 drug stash at property near Ibrox stadium

Glasgow police seize £523,00 drug stash at property near Ibrox stadium

Comments

Teenager locked in controversial Glasgow mental health unit ‘scarred for life’

Teenager locked in controversial Glasgow mental health unit ‘scarred for life’

Comments

Glasgow vegan bakery Plant Blonde announces closure of stores ahead of ‘new chapter’

Glasgow vegan bakery Plant Blonde announces closure of stores ahead of ‘new chapter’

Comments

Lanarkshire brute battered on his own doorstep took out anger on partner in sick attack

Lanarkshire brute battered on his own doorstep took out anger on partner in sick attack

Comments

Brave East Kilbride 11-year-old to take part in freezing swim to raise money for cancer charity

Brave East Kilbride 11-year-old to take part in freezing swim to raise money for cancer charity

Comments

Glasgow City Council warns of ‘worrying trend’ as third of primary pupils miss over 10% of school

Glasgow City Council warns of ‘worrying trend’ as third of primary pupils miss over 10% of school

Comments

Glasgow Easterhouse residents warn area is crumbling and people could be forced out

Glasgow Easterhouse residents warn area is crumbling and people could be forced out

Comments

Rangers takeover deal ‘agreed in principle’ as American consortium to take control at Ibrox

Rangers takeover deal ‘agreed in principle’ as American consortium to take control at Ibrox

Comments

Glasgow death remains ‘unexplained’ one week after woman’s body found in flat

Glasgow death remains ‘unexplained’ one week after woman’s body found in flat

Comments

East Kilbride arrest as disqualified driver in allegedly stolen car fails breath test

East Kilbride arrest as disqualified driver in allegedly stolen car fails breath test

Comments

Glasgow supervisor’s ‘breathtaking dishonesty’ in £30k scam caused clothes shop to close

Glasgow supervisor’s ‘breathtaking dishonesty’ in £30k scam caused clothes shop to close

Comments

Owners of Margaret Fleming murder plot fail to sell land as price slashed

Owners of Margaret Fleming murder plot fail to sell land as price slashed

Comments

Paisley alleged assault as man hospitalised and 22-year-old arrested

Paisley alleged assault as man hospitalised and 22-year-old arrested

Comments

Council chief executives in line for £19k salary increase despite huge tax rises and cuts

Council chief executives in line for £19k salary increase despite huge tax rises and cuts

Comments

Elderly patients forced to wait over 12 hours in A&E departments across greater Glasgow

Elderly patients forced to wait over 12 hours in A&E departments across greater Glasgow

Comments

Man found injured on Glasgow’s M8 as police close junction during rush-hour

Man found injured on Glasgow’s M8 as police close junction during rush-hour

Comments

Glasgow kids living in homeless accommodation exposed to ‘violence, vermin and unspeakable harm’

Glasgow kids living in homeless accommodation exposed to ‘violence, vermin and unspeakable harm’

Comments

Glasgow mum ‘terrified’ after being followed by man who tried to ‘guide her’ to dark underpass

Glasgow mum ‘terrified’ after being followed by man who tried to ‘guide her’ to dark underpass

Comments

Sister of schoolgirl murdered by Peter Tobin was inspired to become forensic science teacher

Sister of schoolgirl murdered by Peter Tobin was inspired to become forensic science teacher

Comments

Teenage girl and cop in hospital after Glasgow police car chase and crash

Teenage girl and cop in hospital after Glasgow police car chase and crash

Comments

Glasgow police seize £523,00 drug stash at property near Ibrox stadium

Glasgow police seize £523,00 drug stash at property near Ibrox stadium

Comments

Teenager locked in controversial Glasgow mental health unit ‘scarred for life’

Teenager locked in controversial Glasgow mental health unit ‘scarred for life’

Comments

Glasgow vegan bakery Plant Blonde announces closure of stores ahead of ‘new chapter’

Glasgow vegan bakery Plant Blonde announces closure of stores ahead of ‘new chapter’

Comments

Lanarkshire brute battered on his own doorstep took out anger on partner in sick attack

Lanarkshire brute battered on his own doorstep took out anger on partner in sick attack

Comments

Brave East Kilbride 11-year-old to take part in freezing swim to raise money for cancer charity

Brave East Kilbride 11-year-old to take part in freezing swim to raise money for cancer charity

Comments

Glasgow City Council warns of ‘worrying trend’ as third of primary pupils miss over 10% of school

Glasgow City Council warns of ‘worrying trend’ as third of primary pupils miss over 10% of school

Comments

Glasgow Easterhouse residents warn area is crumbling and people could be forced out

Glasgow Easterhouse residents warn area is crumbling and people could be forced out

Comments

Rangers takeover deal ‘agreed in principle’ as American consortium to take control at Ibrox

Rangers takeover deal ‘agreed in principle’ as American consortium to take control at Ibrox

Comments

Glasgow death remains ‘unexplained’ one week after woman’s body found in flat

Glasgow death remains ‘unexplained’ one week after woman’s body found in flat

Comments

East Kilbride arrest as disqualified driver in allegedly stolen car fails breath test

East Kilbride arrest as disqualified driver in allegedly stolen car fails breath test

Comments

Glasgow supervisor’s ‘breathtaking dishonesty’ in £30k scam caused clothes shop to close

Glasgow supervisor’s ‘breathtaking dishonesty’ in £30k scam caused clothes shop to close

Comments

Owners of Margaret Fleming murder plot fail to sell land as price slashed

Owners of Margaret Fleming murder plot fail to sell land as price slashed

Comments

Paisley alleged assault as man hospitalised and 22-year-old arrested

Paisley alleged assault as man hospitalised and 22-year-old arrested

Comments

Council chief executives in line for £19k salary increase despite huge tax rises and cuts

Council chief executives in line for £19k salary increase despite huge tax rises and cuts

Comments

Elderly patients forced to wait over 12 hours in A&E departments across greater Glasgow

Elderly patients forced to wait over 12 hours in A&E departments across greater Glasgow

Comments

Man found injured on Glasgow’s M8 as police close junction during rush-hour

Man found injured on Glasgow’s M8 as police close junction during rush-hour

Comments

Glasgow kids living in homeless accommodation exposed to ‘violence, vermin and unspeakable harm’

Glasgow kids living in homeless accommodation exposed to ‘violence, vermin and unspeakable harm’

Comments

Glasgow mum ‘terrified’ after being followed by man who tried to ‘guide her’ to dark underpass

Glasgow mum ‘terrified’ after being followed by man who tried to ‘guide her’ to dark underpass

Comments

Sister of schoolgirl murdered by Peter Tobin was inspired to become forensic science teacher

Sister of schoolgirl murdered by Peter Tobin was inspired to become forensic science teacher

Comments

Teenage girl and cop in hospital after Glasgow police car chase and crash

Teenage girl and cop in hospital after Glasgow police car chase and crash

Comments

Glasgow police seize £523,00 drug stash at property near Ibrox stadium

Glasgow police seize £523,00 drug stash at property near Ibrox stadium

Comments

Teenager locked in controversial Glasgow mental health unit ‘scarred for life’

Teenager locked in controversial Glasgow mental health unit ‘scarred for life’

Comments

Glasgow vegan bakery Plant Blonde announces closure of stores ahead of ‘new chapter’

Glasgow vegan bakery Plant Blonde announces closure of stores ahead of ‘new chapter’

Comments

Lanarkshire brute battered on his own doorstep took out anger on partner in sick attack

Lanarkshire brute battered on his own doorstep took out anger on partner in sick attack

Comments

Brave East Kilbride 11-year-old to take part in freezing swim to raise money for cancer charity

Brave East Kilbride 11-year-old to take part in freezing swim to raise money for cancer charity

Comments

The outlet reports that there is confidence on all sides a deal will be done ahead of next season, adding that “A period of due diligence is now taking place, while legal paperwork is drafted up.” Leeds United chairman Paraag Marathe is also the main man behind NFL giants San Francisco 49ers’ investment wing, the Daily Record reports.

 

Marathe is a friend of 49ers chief executive Jed York. The York family own the 49ers and have an estimated net worth of $5.8billion according to the latest figures released by Forbes Magazine at the end of 2024.

 

Responding to reports last month that Cavenagh’s consortium was interested in purchasing a controlling stake in Rangers, the Elland Road chief said: “I can’t really comment on whatever rumours might be out there.

“But 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, history of success and potential for growth.

“And if you are a sports person, and you live it and treat it as a way of life 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. We always have our eyes and ears open and look at other opportunities.

“Leeds United stands alone, if we were to look at another club, that would stand alone. What you can share and do on the sporting side, we haven’t looked at one club as a feeder club.”

Former Rangers chairman Dave King is the single largest shareholder with just short of 13 per cent and is willing to sell. Douglas Park (11.54%), George Taylor (10.22%), Stuart Gibson (9.53%), Julian Wolhardt (9.53%), John Halsted (9.53%) and John Bennett (7.11%) are among the others willing to part with all or some of their shareholdings.