Andrew Cavenagh and 49ers Enterprises have secured a route to purchase a controlling stake in Rangers, in a major update over the Ibrox takeover.
It's understood the buyers have finalised shares to take over a 51 per cent ownership at the Govan club.
Cavenagh, an American healthcare tycoon, has been in talks with key shareholders for months in an effort to secure a route to a controlling stake.
Now, it's thought, as reported by The Rangers Review, that Cavenagh and 49ers Enterprises chief Paraag Marathe are closing in on finalising a takeover.
It's understood that any announcement of the takeover remains weeks away but work on the legal processes are ongoing.
Reports had claimed the takeover could be held up by stakes held by Sandy Easdale which could be decisive in whether the controlling stake could be acquired by Cavenagh and Marathe.
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However, the 2.25 per cent stake owned by Easdale is not required for the takeover deal to go ahead with a 51 per cent ownership for Cavenagh and Co.
A source close to the negotiations told the Rangers Review: “Talks have been ongoing since October to get enough shareholders on board to ensure that the 51 per cent mark can be reached after a new funding issue.
"The 51 per cent is secured, it is only the legals and regulatory approvals that are holding things up.”
