Ten years on, it’s the iconic former Rangers chairman who looks set to kickstart the sweeping US takeover from the investment group behind the San Francisco 49ers.
The South African businessman hasn’t always seen eye-to-eye with the Rangers board as of late – to put it mildly – but remains the Ibrox club’s largest individual shareholder.
But as Paraag Marathe’s 49ers eye a 50% stake in Rangers, it’s Dave King who is set to be the first domino to fall as an American revolution gets underway at Ibrox.
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Dave King to sell up to San Francisco 49ers
According to the Rangers Review, Dave King is preparing to sell his 12.98% shareholding in Rangers to the 49ers Investments group.
The outlet believes that the former Ibrox chairman could lead the way in the coming weeks, with the takeover expecting to be completed between April and June.
Dave King has been outspoken in recent months about ‘investor fatigue’ at Ibrox and openly criticised the performance of the club under the leadership of Douglas Park.
King, who convinced Steven Gerrard to move to Rangers, stepped down as chairman in March 2020 but since then there has been a succession of overhauls in Glasgow.
If Dave King does sell up, it will signal the end of an era at Rangers and symbolically, will represent the most high profile step towards San Francisco 49ers ownership.
King is one of seven major shareholders at Rangers, with the US group also needing to negotiate with Douglas Park (11.54%), George Taylor (10.22%), Stuart Gibson (9%), John Bennett (7%), John Halsted (6.69%) and Julian Wolhardt (6%).
Rangers respond to takeover ‘speculation’
Rangers have responded to the speculation linking the 49ers Investment group to an Ibrox takeover in the coming weeks.
The club have refused to be drawn on the ‘speculation’ and with the buyout ongoing, will not comment on any potential discussions.
In a short 19 word response, as quoted by the Scotsman, Rangers said:
”It is not our policy to comment on speculation. If there were any such discussions, these would remain confidential.”
