
‘Kept an eye on them’ – US-based Rangers legend offers unique perspective on San Francisco 49ers takeover bid
‘Kept an eye on them’ – US-based Rangers legend offers unique perspective on San Francisco 49ers takeover bid
When Rangers were sold by a United States-based businessman in the late 1980s, it might reasonably be described as the most significant event in the Ibrox club’s history to date. Can a takeover by an investment wing of an American football team have a similar impact?
Rangers fans will firmly hope this proposed link up with San Francisco 49ers can trigger a much needed trophy spurt. But they will also pray that any new era avoids the boom and bust pattern of David Murray’s tenure. The steel magnate bought Rangers from Lawrence Marlbrough, whose relocation to Nevada from Scotland meant he felt unable to continue running a club with links to his family that dated back to the 1940s.
Murray became owner in 1988, initially with great success. However, cavalier spending combined with a ruinous disguised remuneration tax avoidance scheme combined to turn the Ibrox club into a financial basket case. Now, 13 years after that implosion, they are still trying to find a way out of the mess created, hence the Ibrox nation turning their lonely eyes to the west coast of America.
A proposed multi-million pound investment by the investment arm of an American football team that also owns English Championship leaders Leeds United might be viewed as an extreme reaction to one of Rangers’ worst-ever defeats. The recent Scottish Cup loss to Queen’s Park at Ibrox perhaps accelerated the need for such news to be relayed to the masses but talks with 49ers Enterprises have, it’s understood, been ongoing for some time.
Spearheading these negotiations is the multi-titled Paraag Marathe, who as well as being chairman of Leeds United, serves as San Francisco 49ers’ executive vice president of football operations and chief contract negotiator while also leading their analytics department. The 47-year-old will certainly have his work cut out if he adds Rangers to the 49ers’ portfolio.
Last October, Rangers published their annual financial results which showed a £17.2million loss while noting record revenues. By contrast, rivals Celtic recently announced a pre-tax profit of £43.9m, with the interim report for the six months to December 31, 2024 showing that the Parkhead club hold a cash reserve of £65.4m.
As well as dealing with Rangers’ fragmented ownership base, 49ers Enterprises will need to box clever when it comes to the Scottish Football Association. Rules regarding multi-team ownership restrict investment from an umbrella organisation to 25 per cent, although the SFA approved Hibs’ dual dispensation request last year to facilitate a £6 million investment from Bournemouth owner Bill Foley’s Black Knight group.
The limit was set at a 29.9 per cent stake but the SFA’s resolve when it comes to this issue will likely be tested again by this mooted Rangers takeover, with one football analyst telling The Scotsman yesterday that it might be time to do away with these rules completely, such is football’s changing landscape. One Rangers legend with a unique perspective on the prospective takeover news is Richard Gough, who is based in California. “I hope it gets done because we definitely need it,” the nine-in-a-row skipper said when contacted by The Scotsman yesterday.
“The 49ers in the 1980s were a huge club,” he added. “When I went up to San Jose (Gough played for San Jose Clash in 1998-99), a couple of 49ers players stayed very close to me in my neighbourhood.
“I have kept an eye on them,” he continued, before adding with a knowing chuckle: “I have always supported them!” Gough also had a spell at Kansas City Wizards.
“People will point out that those Chiefs are not too bad either!” he noted, with reference to the runners-up in the recent Super Bowl. “I was not at either club for too long but for some reason I am still here (in America)!”
Gough, who as far as he is aware remains an ambassador at the Ibrox club, has been keeping abreast of recent developments. “I think it will be marvellous if it can get over the line,” he said. “They have done a really good job with Leeds United. If they can do the same job for us it will be fantastic.”
Little happens very quickly in the world of football club investment. Any confirmation of a deal being done, meanwhile, might not come until this summer, by which time it’s very possible Rangers will have fallen another two major trophies behind Celtic. They are currently still getting used to trailing the Parkhead club on that count. December’s League Cup win over Rangers saw Celtic take a 119-118 lead, the first time they have been ahead of the Ibrox club since 1938.
The perception they could simply become a feeder club for Leeds United is a fresh blow to Rangers’ status. Nevertheless, this sort of investment, as part of a multi-club enterprise, looks like being the only way the Ibrox club can start clawing back some ground on Celtic, if it’s not already too late.
“We are looking at whether club formations can be an option for us,” United States-based director Alistair Johnston informed shareholders at the club’s agm late last year. One of the challenges facing chief executive Patrick Stewart when he was brought on board late last year was to facilitate such an arrangement, although talks, it’s understood, were already underway with 49ers Enterprises, who paid £170m to gain full control of Leeds United two years ago.
It might cost somewhat less to secure a controlling interest in Rangers but once money for new players and funds to upgrade Ibrox are factored in, the sum required will probably be roughly equivalent.
“If we can get that money in, because from 2012 it’s been an awful period for us,” said Gough. “The supporters are the ones who have taken most of the hits. If we can get this over the line, it will be fantastic. It will be a great boost for the club.
“It will make things feel very different to two weeks ago, when I watched us lose to Queen’s Park from here in America. Even the Hearts game last week, we could have been beaten 6-2. So it’s definitely a major shot in the arm if they can get it over the line.”
Leave a Reply