Rangers issue 19-word statement amid takeover reports involving Leeds United chairman Paraag Marathe
Leeds United have declined to comment on reports surrounding Paraag Marathe's role in the Scottish Premiership club’s prospective takeover.
Rangers insist any prospective takeover discussions would ‘remain confidential’ after reports named Leeds United chairman Paraag Marathe as part of a consortium looking to buy the Scottish Premiership side.
Scottish outlet the Daily Record reported on Wednesday evening that a consortium from the United States was looking to purchase a controlling stake in Rangers, with sources north of the border indicating to the YEP that talks are taking place. The report names Marathe as ‘one of the key men behind the proposal’, adding that discussions are at an ‘advanced stage’.
Marathe is said to be part of a consortium looking to purchase enough shares to make it the single largest shareholder at Rangers, with at least one other ‘high net worth American business mogul’ involved. The Leeds chairman is executive vice president of football operations at San Francisco 49ers and the man in charge of their investment arm, 49ers Enterprises.
Leeds United and 49ers Enterprises told the YEP they would not be commenting on the reports, but Rangers have since provided a very brief statement. The PA news agency published quotes from a Rangers spokesperson, who said: “It is not our policy to comment on speculation. If there were any such discussions, these would remain confidential.”
49ers Enterprises took majority control of Leeds in the summer of 2023, following a £170million buyout of Andrea Radrizzani. The NFL team’s investment arm had been involved with the club long before, first investing during their previous Championship spell in 2018 before increasing their share incrementally.
Marathe played a leading role in that takeover and has been Leeds chairman since 49ers Enterprises became majority owners. The American is not thought to have played a similar leading role in the reported talks to buy Rangers, instead pledging financial backing as the consortium ‘closes in on a deal to oversee a revolutionary transfer of power in the boardroom.’
The initial report claims a successful takeover would see Rangers receive a ‘massive injection of transfer cash’ going in the summer, with their window potentially ‘ ‘bankrolled by the enormous financial muscle’ of San Francisco 49ers. Leeds’ majority owners are believed to be open to the prospect of a multi-club model that has become increasingly popular in recent years, with the likes of Manchester City, Brentford and Chelsea following the trend.