Paraag Marathe, the San Francisco 49ers' executive vice-president of football operations, has entered discussions to potentially take control of Rangers Football Club. Currently serving as chairman of Leeds United, Marathe is exploring a multi-million-pound deal that, if successful, would see him assume a prominent role at the Scottish club. Despite ongoing talks, no agreement has been reached yet.
Rangers are grappling with significant challenges this season. The team trails 16 points behind their historic rivals Celtic in the Scottish Premiership standings. Compounding their woes, they suffered a defeat in the League Cup final to Celtic and experienced an unexpected exit from the Scottish Cup after losing at home to Queen's Park. Financially, the club posted a staggering £17.2 million loss last year, underscoring the urgency for strategic changes.
Marathe has been part of the San Francisco 49ers organization for 24 years. Addressing the takeover speculations for the first time, he emphasized their strategic approach to opportunities in the sports world.
"But we are looking at other opportunities."
From: Paraag Marathe
The ownership structure at Rangers is complex, with former chair Dave King holding around a 13% stake at Ibrox. Additionally, former chair Douglas Park and director George Taylor each own over 10% of the club's shares. These dynamics play a crucial role as Marathe navigates potential negotiations for influence within the club.
Rangers recently experienced managerial upheaval with the dismissal of Philippe Clement following a 2-0 home defeat against St Mirren. Former player Barry Ferguson has stepped in as manager during this tumultuous period.
In discussing the possibility of owning multiple sports entities, Marathe expressed a perspective rooted in passion and commitment.
"Just like there is to love all of your children, there's enough room in your heart to love all your sports properties."
From: Paraag Marathe
The prospect of Marathe's involvement at Rangers offers potential optimism for the club's future direction. As discussions continue, stakeholders and fans alike await further developments that could redefine the landscape at Ibrox.
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