A MAJOR update has emerged in the takeover of Rangers.
A deal for the Scottish Premiership giants to be taken over has been agreed in principle with 49ers Enterprises.
The US investors have been in talks for several months after acquiring a majority shareholding in the club.
Now, it seems that Paraag Marathe - president of San Francisco 49ers investment strand - is closing in on the deal.
Sky Sports states that a period of due diligence will now take place, with legal paperwork is concluded.
Marathe - who is also chairman of Leeds United - is working alongside Andrew Cavenagh, who is executive chairman of ParetoHealth.
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The US consortium are seeking at least a 51 percent stake in Rangers.
If they succeed, they will take control of the boardroom at Ibrox and become the key decision-makers at the club.
Dave King is currently the largest shareholder at Rangers - and this deal will involve the South African-based businessman selling his stake, along with others including Douglas Park, George Taylor, Stuart Gibson and others.
49ers Enterprises also owns Championship league leaders Leeds, so will need to pass the Scottish FA's multi-club ownership rules, albeit, it's believed the SFA are ready to approve the takeover.
