Rangers takeover agreed in principle by U.S. investors

A takeover of Scottish football club Rangers has been agreed in principle by a consortium of U.S. investors led by Andrew Cavenagh and Paraag Marathe, the chairman of Leeds United and key figure behind the San Francisco 49ers' investment operations. The deal, which aims for a 51% stake in the club, is currently undergoing due diligence and legal preparations, with expectations that it will be finalized before the new season. Major shareholders including former chairman Dave King, who holds nearly 13%, and others are open to selling their stakes. Marathe has noted the significance of the deal, which could significantly impact Scottish football. The consortium must also navigate the Scottish FA's rules regarding multi-club ownership, though approval is anticipated. The move signals a potential new era for Rangers, given the financial backing and expertise of the investors involved.