49ers Enterprises have reportedly reached an agreement in principle to become the new co-owners of Rangers. However, the deal is not expected to impact Leeds United’s relationship with the San Francisco 49ers’ investment division.

Leeds chairman Paraag Marathe, who also serves as the president of 49ers Enterprises, is one of two key figures leading the proposed takeover. The other is Andrew Cavenagh, an American banker-turned-insurance executive.

According to Sky Sports, Marathe and Cavenagh are seeking to acquire a majority stake of at least 51% in the Scottish club. Last month, during the Financial Times’ The Business of Football Summit, Marathe confirmed that 49ers Enterprises remain open to acquiring additional clubs.

He stated: *“We always have our eyes and ears open; we’re always looking at other opportunities. Multi-club ownership in the sense of a hierarchy—that’s not really how we approach it.

“We see it more as standalone entities. Leeds United stands alone, and if we were to pursue another club, that club would also stand alone.

“There are definite advantages to having leadership and ownership across multiple clubs, particularly in terms of shared commercial strategies and, in some cases, sporting operations.

“However, we do not view, nor have we considered, a structure where one club serves as a feeder for another. Every club deserves our full attention and commitment.”*

Marathe further commented: *“I can’t speak on any rumours circulating, but we are exploring other opportunities. Replicating the passion seen at Leeds is certainly possible.

“What we seek are clubs with the right foundations, a history of success, and strong potential for future growth. If you are truly passionate about sport and treat it as a way of life, as I do, then there is always room to love and dedicate yourself to all your sporting ventures—just as you would to all your children.”*