What SFA has said on dual ownership as Rangers’ San Francisco 49ers takeover brings Leeds connection to table

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RANGERS fans have stars – and stripes – in their eyes after reports of a potential US-led takeover.

The owners of the San Francisco 49ers NFL franchise are said to be in talks with Ibrox hierarchy to buy into the blue side of Glasgow.

Paraag Marathe, president of the San Francisco 49ers, in an interview.

Paraag Marathe is believed to be in talks over a stake in Rangers[/caption]

Leeds United fans holding "We Are Leeds" banners.

He’s been pushing Leeds’ return to the Premier League since pitching up at Elland Road in 2023[/caption]

He also fronts up 49ers Enterprises – the owners of the NFL franchise based in San Francisco[/caption]

It could provide a multi-million cash injection on Edmiston Drive.

Not only that, it could also open up huge possibilities and benefits to the Gers – with members of the consortium already involved in ‘soccer’ as well as American football.

However Ibrox sources have insisted there are still hurdles to overcome – not to mention Scottish FA regulations to abide by in terms of the governing body‘s ownership rules.

It all stems from consortium key man Paraag Marathe and his existing interests in football.

He fronts 49ers Enterprises – and holds a controlling stake in Leeds United.

And it’s that connection which could come under scrutiny for the SFA.

Cross-club ownership is nothing new in football.

The most prominent global football network is the City Group – involved in ‘City’ clubs in New York, Manchester, Melbourne, Mumbai and Montevideo – as well as Girona.

However the likes of Brighton and Union Saint-Gilloise are both tied together by owner Tony Bloom and his companies, while Hibs investor Bill Foley is also majority owner at Bournemouth.

The latter deal put the SFA ownership rules under the spotlight last season – and they could be dusted down again given Marathe’s Elland Road alliance.

Article 13 in the Scottish FA rulebook covers dual interests in clubs and any individual involved in another club must have the consent of the SFA board before the deal is rubberstamped.

Foley’s bid to buy into Easter Road had to be cleared by the authorities before he ploughed an initial £6m into Hibs for 25% minority stake in the club.

But he was allotted a maximum of 29.9 per cent by the Hampden beaks.

And the same rules could limit the 49ers owners to similar figures at Ibrox given their Leeds link.

SFA Article 13.1

13.1

Except with the prior written consent of the Board:

(a) no club or nominee of a club; and
(b) no person, whether absolutely or as a trustee, either alone or in conjunction with one or more associates or solely through an associate or associates (even where such person has no formal interest), who:
- (i) is a member of a club; or
- (ii) is involved in any capacity whatsoever in the management or administration of a club; or
- (iii) has any power whatsoever to influence the management or administration of a club
may at the same time either directly or indirectly
- (A) be a member of another club; or
- (B) be involved in any capacity whatsoever in the management or administration of another club; or
- (C) have any power whatsoever to influence the management or administration of another club.

13.2

Except with the prior written consent of the Board, any person who:

(a) is a member of a club;
(b) is involved in any capacity whatsoever in the management or administration of a club; or
(c) has any power whatsoever to influence the management or administration of a club,

may not take up any such role with another club until such time as the Scottish FA is reasonably satisfied that such person has ceased to hold such role in the first club.

If this would require the relevant person to transfer his shares in the first club, the Scottish FA must be reasonably satisfied that the share transfer has been completed and that the shares have not been transferred to an associate.

The criteria for assessing whether the position is satisfactory or not shall include provision to the Scottish FA of:

(i) a certified true copy of the register of members of the first club (or such other evidence as the Board, acting reasonably, shall accept) showing that the relevant person is no longer a member and that the shares have not been transferred to a person who is an associate; and
(ii) a certificate from the secretary of the first club confirming that the procedures applied in the transfer of the shares by the person to whom this Article 13.2 applies complies with such club’s constitution in all respects.

The Scottish FA must be reasonably satisfied about the transfer of his shares in the first club before such person can take up any such role at another club.

The relevant person shall only be entitled to take up any of the aforementioned roles at another club prior to the transfer of his shares in the first club if the Scottish FA is reasonably satisfied that the shares have been placed into an irrevocable trust of which neither he nor any of his associates is a beneficiary and that he cannot exercise any rights or be entitled to any privileges in respect of such shares or such other arrangement is entered into in respect of the shares which the Scottish FA is satisfied (acting reasonably) achieves the same outcome.

However it is believed other US investors could be keen to come on board too inspired by Marathe’s current role spearheading the White’s charge back to the Premier League.

Marathe and the 49ers group have been involved at Elland Road since 2023.

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What SFA has said on dual ownership as Rangers’ San Francisco 49ers takeover brings Leeds connection to table

SFA Article 13.1

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