The takeover of Rangers by a US consortium has moved a step closer to completion.
Paraag Marathe, the chief executive of 49ers Enterprises, and health insurance tycoon Andrew Cavenagh are on the brink of an agreement that will signal significant changes to the ownership model of the Ibrox club.
The Rangers Review reports that the deal, worth multiple millions, will be completed by the end of May.
The update to the timeline of the business transaction comes as negotiations continue behind the scenes.
Key parties have received their first tranche of the legal paperwork required to bring about regime change at Ibrox.
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Talks between 49ers Enterprises and Rangers started in October, and only became public knowledge around three weeks ago.
The deal will see Dave King sell his majority shareholding in RIFC plc, while John Bennett and Barry Scott will also look to sell up. Douglas Park is expected to part ways with a percentage of his stake in the club too.
The American consortium will then have a controlling stake in Rangers amounting to 51 per cent.
It's said that the main paperwork has not yet been finalised but initial documents are now under review, with the deal anticipated to be rubber-stamped in the next couple of months.
