49ers require law change to proceed with Rangers takeover
49ers require law change to proceed with Rangers takeover
Rangers are awaiting the formalities to be completed for a takeover by the 49ers but the deal may yet hit a snag.
Leeds United chief Paraag Marathe and ParetoHealth supremo Andrew Cavanagh have agreed a deal in principle to purchase a controlling stake in the Govan outfit.
Legal paperwork and a period of due diligence are set to take place before a deal is rubber-stamped for the summer.
However, the takeover may be in danger after a new development emerged from Ibrox.
49ers Rangers deal requires law change
The 49ers takeover at Ibrox will require a change in EFL regulations if Leeds fail to gain promotion to the Premier League, according to Alan Nixon via The Sun on Sunday.
The newspaper’s print edition [16 March, page 55] claims that current EFL regulations do not allow the same party to own more than one British club, and so they would need to seek a change to the rules.
However, that would not be a problem if the Elland Road outfit secure promotion to the top flight as there are no such rules in that division.
Rangers should not be worried despite new Leeds development
Gers supporters should not be concerned by the latest development as the Whites are in a strong position to secure a Premier League berth next season.
Daniel Farke’s side are two points clear of second-placed Burnley but could be joined at the summit by Sheffield United if the Blades win their game in hand.
However, Leeds have been by far the best side in the English second tier and there is every chance that they pick up their form as the season concludes.
If they fail to do so, the parties will have to find a workaround and separate the entities that own either club until the Whites eventually go up to the top flight.
Regardless of the potential hiccup for the American investors, it promises to be an exciting summer at Auchenhowie with the impending takeover and the managerial situation, with Barry Ferguson impressing in an interim role at the moment.
The 49ers have a big decision on their hands when the deal goes through on whether to keep Ferguson at the helm or bring back Steven Gerrard, or indeed go in a completely different direction.
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