A takeover deal for Rangers has been "been agreed in principle" as US investors gear up to assume control at Ibrox. American businessman Andrew Cavenagh is spearheading a consortium aiming to purchase a controlling stake in the Light Blues, alongside Leeds United chairman Paraag Marathe, the key figure behind NFL giants San Francisco 49ers' investment wing.

Sky Sports reports that a deal to acquire 51 per cent of the club has now been agreed, with legal paperwork for the transaction being prepared, adding "A period of due diligence is now taking place, while legal paperwork is drafted up" with confidence on all sides that it will be finalised before the new season. Former chairman Dave King, the single largest shareholder with just under 13 per cent, is open to selling.

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. Marathe is seen as the right-hand man and close friend of 49ers chief executive Jed York.

The York family, owners of the 49ers, have an estimated net worth of $5.8billion (£4.5bn) according to the latest figures released by Forbes Magazine at the end of 2024. And Marathe was questioned about the shockwaves that were sent throughout Scottish football while speaking at the Financial Times Business of Football Summit.

The head honcho at Elland Road, addressing the speculation about acquiring a major share in Rangers, declared: "I can't really comment on whatever rumours might be out there.

"But we are looking at other opportunities. It is doable to replicate the passion (of Leeds ). What we are looking for is clubs with the right bones, history of success and potential for growth.

"And if you are a sports person, and you live it and treat it as a way of life like I do, then absolutely there is enough room in your heart to love all your sports properties, just like there is to love all of your children! We always have our eyes and ears open and look at other opportunities. Leeds Utd stands alone, if we were to look at another club that would stand alone. What you can share and do on the sporting side, we haven't looked at one club as a feeder club.

"We always have our eyes and ears open and look at other opportunities. Leeds Utd stands alone, if we were to look at another club that would stand alone. What you can share and do on the sporting side, we haven't looked at one club as a feeder club."

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