Dave King is set to initiate a major shift in leadership at Ibrox by selling his significant stake in Rangers to an American consortium.
As the largest individual shareholder in RIFC plc, holding 12.96 per cent, King is expected to step aside as 49ers Enterprises—led by Leeds United chairman Paraag Marathe—push forward with a multi-million-pound takeover in the coming weeks.
According to The Rangers Review on Thursday, Marathe’s arrival and his investment group’s involvement would lead to significant changes at the Ibrox boardroom, with several key investors preparing to exit. King is likely to be at the forefront of these transactions as the Americans look to secure his shares in the club he has long been associated with.
Back in September, King spoke to The Rangers Review about “investor fatigue” at Ibrox and called for fresh leadership and financial backing. His attempt to return as chairman was rejected, with John Gilligan stepping in to stabilize the club following John Bennett’s departure.
Despite being based in South Africa, King has remained highly engaged in Rangers’ affairs both on and off the pitch. Now, nearly a decade after he, Gilligan, and Murray wrested control of the club from Mike Ashley and the Easdale brothers, talks of a new ownership transition are intensifying, with final agreements expected in the coming weeks.
King’s 12.96 per cent stake is followed by Douglas Park (11.54 per cent) and George Taylor (10.22 per cent), while Stuart Gibson and Bennett, currently the club’s biggest lender, hold roughly nine per cent and seven per cent, respectively. Meanwhile, RIFC plc board members Halsted and Wolhardt control 6.69 per cent and six per cent of shares.
Key Decisions Looming for New Investors
Once in place, the new ownership group will have crucial choices to make, particularly concerning manager Philippe Clement, who is under pressure following Rangers’ Scottish Cup exit at the hands of Queen’s Park.
Club chief executive Patrick Stewart has publicly backed Clement, outlining key recommendations from an ongoing review of the club’s football operations at Auchenhowie.
“The review is progressing well,” Stewart told RangersTV. “We’ve gained valuable insights into what’s working and what isn’t at Auchenhowie. I have to commend the staff for their honesty and openness, which has provided critical feedback to both myself and the external consultants involved.”
A major outcome of the review has been the recognition of the need for a sporting director.
“We’ve identified the necessity for a senior figure to oversee all football operations at the club,” Stewart confirmed. “We are now actively searching for a sporting director—an experienced football executive who will take charge of ensuring all aspects of the club are aligned under a unified vision.”
