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Paraag Marathe and Andrew Cavenagh are inching closer to finalising their proposed takeover of Rangers.

News of a consortium including 49ers Enterprises being in advanced talks over buying Rangers emerged last month and it quickly gained pace some existing shareholders agreed to sell up.

The buyers had a major breakthrough when Sky Sports reported last Monday (3 March) that they had reached an agreement in principle to move forward with the deal.

Therefore, Marathe and Cavenagh will acquire a 51 per cent stake at Ibrox once due diligence is done on the agreement and the paperwork is done.

49ers sweep through legalities as Jose Mourinho verdict made

Gary Keown has now provided the latest update on where the takeover stands, revealing that the US consortium is currently sweeping through the legalities of the deal ahead of the ‘Great Reset’ at Rangers.

Shareholder Stake

Dave King 12.96%

Douglas Park 11.54%

George Taylor 10.22%

Stuart Gibson 9.53%

Julian Wolhardt 9.53%

John Halsted 9.53%

John Bennett 7.11%

Shareholders who have agreed to sell all or part of their stake.

The journalist also rubbished claims of Jose Mourinho being a possible candidate to become the Light Blues’ next manager, while Celtic are already a no-go after Porto’s 3-2 win against them in the 2003 UEFA Cup final.

“That only leaves the old Teddy Bears, then, and the truth is that a figurehead of his [Mourinho’s] ilk is pretty much the last thing the Ibrox club need as they prepare for the Great Reset under the US consortium now at the stage of going through the legalities ahead of sweeping into power”, Keown wrote in the Scottish Mail on Sunday (page 90, 9 March).

Rangers set for new era

It is only a matter of time before Marathe and Cavenagh are calling the shots at Rangers and it will truly be the start of a new era.