“BILLION-DOLLAR SAUDI TAKEOVER SHOCK: Rangers Set to Become Football’s MEGA-POWERHOUSE!”

Rangers Football Club is on the brink of a significant ownership change, with a US consortium led by healthcare magnate Andrew Cavenagh and 49ers executive Paraag Marathe closing in on a controlling stake.

The group has identified a pathway to acquire 51 per cent of the club, though the finalisation of the deal might not occur until mid-June—leaving time for potential developments.

With Rangers’ season all but over, their final three games serving little competitive purpose, the spotlight has shifted to the club’s impending takeover.

Adding intrigue to the situation, it has now been revealed that wealthy investors from Saudi Arabia had also shown interest in acquiring a stake in the Glasgow club.

Former chairman Dave King, a pivotal figure behind the scenes, has disclosed he was engaged in discussions with Saudi backers before the American consortium entered the picture.

King has been actively seeking new investors for the club, particularly after becoming disillusioned with its direction following the 2020-21 Premiership title triumph under Steven Gerrard.

Convinced that local investment would not be sufficient to close the gap on rivals, King turned to global prospects in pursuit of deeper financial backing and a long-term plan for sustainability.

Speaking to talkSPORT (as quoted by The Herald on 7 May), King explained: “After winning title 55, the club had regressed significantly, and I believed the gap was too great to bridge with just local funding from the board.

I initiated a project to find a substantial investor who could drive the club forward—not just in footballing terms but financially too.”

He continued: “I wanted someone with deeper pockets and sustainable resources.

I was in conversations with Saudi investors when, around October, I received a call from Paul Murray, who said: ‘Dave, I know you’re looking for investment—I’ve found a group that seems like the real deal.’”

The consortium led by Cavenagh and Marathe is now finalising the purchase of enough shares to secure a majority stake in Rangers.

King is among the shareholders who have agreed to sell, indicating a significant shift in the club’s power structure is imminent.

While initial hopes aimed for a deal completion by the end of May, it now appears the process may extend into June.

Still, the prospect of fresh investment and new leadership has generated considerable anticipation in Govan, where supporters are eager to see what the new era might bring.