Rangers takeover could break down as alarming news emerges, legal papers submitted

Rangers are on the brink of entering a new chapter with the 49ers Enterprises group nearing the completion of their takeover bid.

The investment branch of the San Francisco 49ers NFL team is poised to acquire a controlling interest in the club, with Paraag Marathe and Andrew Cavenagh spearheading the negotiations. However, a recent development has emerged that could jeopardize the progress of the takeover.

Rangers takeover hit by fresh obstacle as paperwork submitted

Rangers bosses had hoped that the takeover could be completed by May after legal paperwork was submitted.

However, a report from the Scottish Sun (8 April) claims that the deal could be off if Leeds United fail to secure promotion from the English Championship.

While the SFA are on board with the potential deal, EFL regulations prohibit associations between clubs without “prior written consent of the board”.

That did not look like it would be a problem as Leeds were top of the Championship and in pole position to secure promotion to the Premier League; however, a rotten run of results has now left them outside the automatic promotion spots with six matches left to play.

However, the report states that the takeover could receive a lifeline as EFL clubs could vote to relax their rules on dual ownership at an annual general meeting on 18 June.

49ers development is a major blow for Rangers

The takeover is pretty much the only thing keeping Gers supporters positive at the moment.

The Light Blues have been in woeful form domestically and find themselves 13 points behind arch-rivals Celtic in the Scottish Premiership.

The Europa League represents their only chance of success but it would take a huge effort to win that competition given the strength of their rivals.

The new owners are expected to make sweeping changes at Ibrox and back the Glasgow club substantially in the transfer market but the latest blow will be tough to take for Gers supporters.

They will be cheering on Leeds in the final few weeks of the season, hoping that they secure promotion and avoid the potential obstacle to the deal going through.

If not, it may be a worrying summer for the Bears faithful as they wait nervously for the outcome of the AGM.

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