Speculation is mounting over potential investment in Rangers by the owner of the San Francisco 49ers. But could the signs have been there all along?
Comments from the board at the recent AGM hinted at a possible move towards a multi-club ownership model.
Rangers have been in search of fresh investment for some time, with key shareholders having shouldered significant financial losses in recent years.
The Scottish Premiership giants has also undergone major structural changes, including the appointment of new CEO Patrick Stewart, who has been tasked with leading an internal review of operations, and chairman Fraser Thornton.
At Rangers’ AGM on December 5, director Alastair Johnston - who is based in the United States - hinted that they were open to the idea of becoming part of a wider football network.
He referenced a meeting with Sir Jim Ratcliffe, owner of Ineos and an investor in Manchester United, as part of these discussions.
“In terms of the new CEO coming in from Manchester United, I would look for him to provide a lot of advice in that regard, and how we basically improve our bottom line by collaborating,” Johnston said.
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Since then, Stewart, who was also previously an employee at Old Trafford, has brought in Sportsology Group, a New York-based consultancy firm, to conduct an internal review of Rangers' operations.
Interestingly, Sportsology has worked with both Ineos and the San Francisco 49ers.
Many supporters thought Rangers manager Philippe Clement should've been sacked following their shock Scottish Cup elimination by second-tier Queen's Park earlier this month. Yet, the board didn't react.
Stewart has repeatedly insisted that it wasn't a financially-led decision. However, could it be driven by potential new owners who are waiting to get their own man into the dugout.
Sportsology’s work with the 49ers included implementing a structure inspired by English Premier League clubs, featuring the appointment of a performance director to oversee medical and football operations.
Now, Rangers have announced plans to recruit a similar figure.
Adding to the speculation, 49ers executive Paraag Marathe became chairman of Leeds United following the 49ers Enterprises takeover of the club in 2023, aligning with the type of multi-club model Johnston spoke about in December.
While no official talks have been confirmed by Rangers, there are indications that some Ibrox shareholders may be preparing to sell their stakes.
