Rangers 49ers takeover has come to an end as they choose Leeds over Rangers…
IT’S not just their own side’s faltering form which Rangers fans should be concerned with right now.
That’s because an alarming run of just one win in their last six matches for Leeds Utd could present this summer‘s game changing takeover by the 49ers group with a MAJOR headache.
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The SFA appear to be on board with the proposed takeover which will see Andrew Cavenagh and a 49ers enterprises group headed up by Paraag Marathe take on 51% of the club’s shares – with Cavenagh the major player in the arrangement.
But the same isn’t automatically the case south of the border where the EFL currently have restrictions which would prevent the deal going through should Leeds Utd remain in the Championship.
Under Section 10 of Section Six of the EFL regulations governing associations between clubs, the “prior written consent of the board” is required for a club to be involved in any capacity in the management and administration of another club, INCLUDING in the SPFL.
For instance, while Bill Foley’s Black Knights group were allowed to accrue a 25% stake in Hibs, that deal WOULDN’T have been allowed to go ahead if Bournemouth had been in the Championship, rather than the Premiership, at the time.
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Go back a month ago and this didn’t seem like too much of a problem: Leeds were riding high at the top of the table, but they’ve won just one of their last six Championship matches with Saturday’s 1-1 draw with Luton their third in a row.
With only six games remaining, they’ve now dropped OUT of the automatic promotion spots, with another difficult assignment ahead at Middlesbrough tonight.
While Leeds would still fancy their chances via the playoffs, funny things can happen.
Even if Leeds CAN’T clinch promotion, there is still a potential way for the takeover to proceed.
There’s a possibility of EFL club bosses voting to RELAX rules on dual ownership and bring them into line with the Premiership – but that meeting can’t proceed before the AGM on June 18.
So even assuming a possible amendment is passed to save the day, even the timing could pose a major obstacle amid claims that bosses hoped the takeover could be signed, sealed and delivered by the end of May.
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An EFL spokesperson said: “There is a scheduled Club meeting in early June where any possible amendment would be discussed alongside other potential rule changes.”
It’s all a major additional headache as the incoming regime bids to make a fast start and make squad improvements required to give them a fighting chance at Champions League qualification.
Legal papers are paid have now been submitted and are under review by all parties.
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