Keith Jackson of Record Sport provides insight into why the Rangers takeover is taking longer than expected. Contrary to rumours suggesting the deal has stalled or is on the verge of collapsing, the takeover by 49ers Enterprises is still progressing and is expected to be finalized this month.
Record Sport first broke the news that a U.S. consortium, led by Andrew Cavenagh, was preparing to take control from Dave King, John Bennett, Barry Scott, and other minor shareholders. Despite whispers of delays behind the scenes as the end of the Premiership season approaches, Jackson reveals that the process is advancing as planned and that the American ownership of Rangers could be confirmed before April concludes.
Jackson explains that the deal has become bogged down in legalities, causing some delays. However, he emphasizes that all parties involved remain committed to completing the deal. He expects things to be finalized soon, possibly within the next few weeks, and anticipates further representation from the 49ers and their consortium at Ibrox.
The consortium’s involvement is significant, with Cavenagh recently attending a match in Istanbul and later flying to Glasgow with a delegation to visit various locations, including the training ground and Celtic Park. Their visible interest underscores the seriousness of the deal.
Scott Burns adds that although the deal is close to completion, some Rangers directors may be growing frustrated by the prolonged timeline, though there are no concerns about the deal falling apart.
Jackson further explains that the complexity of the deal is due to multiple parties involved and the need for negotiations across different time zones. While the consortium has reached about 25 percent ownership, they still need to negotiate with other shareholders to acquire a controlling 51 percent. This multi-layered process is what makes the deal intricate but not insurmountable. Despite the delays, Jackson is confident the takeover will eventually go through, although he acknowledges that the longer it takes, the more speculation will arise.
