2 weeks Ago
Sky Sports News reported in March that healthcare tycoon Andrew Cavenagh and the San Francisco 49ers investment arm, the 49ers Enterprises, had agreed a deal in principle to acquire a controlling stake in the Scottish Premiership club. Talks have been ongoing since the end of October, and a deal - which will see the US group gain at least 51 per cent of the shares in Rangers - is expected to be completed ahead of the new season. Please use Chrome browser for a more accessible video player Exclusive shots from Ibrox as health insurance tycoon Andrew Cavenagh is quizzed on the US-led takeover of Rangers When asked about the talks, Rangers and the consortium issued a joint statement to Sky Sports News saying: "Rangers and its existing controlling shareholders are in productive conversations with the two lead members of the Consortium, Andrew Cavenagh and 49ers Enterprises Global Football Group, about the potential for the Consortium to acquire control of the club and to inject additional capital.
"These discussions reflect a shared recognition of the importance of Rangers FC's long-term direction, ambitions and management." How will the US group gain control? Image: Former Rangers chairman Dave King is among those selling his shares to the US group Rangers' single largest shareholder Dave King is among the key figures who is set to sell his stake in the club. King has a 12.
96 per cent shareholding and one source has suggested the 49ers were one of three serious parties to approach the former Ibrox chairman over investing in the club. 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. Who are the investors? Please use Chrome browser for a more accessible video player Health insurance tycoon Andrew Cavenagh and Gretar Steinsson of the San Francisco 49ers were at Ibrox for Rangers' Europa League.
.. Sahil Jaidka.
