After less than a week the Daily Record has ditched their coverage of the ‘Rangers takeover bid’.
At 5.45pm last Wednesday star reporter Keith Jackson breathlessly discussed the greatest story of his 30 years tenure at the ailing Glasgow publisher- a story even bigger than the 2010 introduction of a billionaire from Motherwell with so much wealth no-one could find it on Google.
Jackson did get that story correct. Six months later Craig Whyte rolled a pound coin across the table to Dave Murray, it was just details about his personal wealth and funding plans that were off target.
Undeterred Jackson was blowing his own trumpet over the takeover by the San Francisco 49ers, talks were at an advanced stage with every other legacy media outlet falling into line as they celebrated the end of Celtic’s domination.
In trademark style in the Record Jackson boomed:
Rangers are at the centre of a potentially transformative US led takeover bid – a deal that would see them bankrolled by the enormous financial muscle of the San Francisco 49ers.
The Daily Record has learned top-level discussions over a multi-million pound investment began before the turn of the year – and they are now believed to be at ‘an advanced stage’. And if an agreement can be thrashed out the Ibrox club stand to benefit from a major cash injection which would then fund a spending splurge in the summer transfer market.
Sources from south of the border have confirmed one of the key men behind the proposal is Leeds United chairman Paraag Marathe – the man in charge of the NFL giants’ investment arm, 49ers Enterprises. Marathe – who is also executive vice president of football operations in San Francisco – was the architect in chief of a takeover of the Elland Road Club which took a step closer to a Premier League return on Monday night with a dramatic late win over Sunderland.
On Tuesday February 25 the Record didn’t publish a single word about the fakeover, Jackson has gone off on holiday with his colleagues quietly trying to forget all about last week’s drama as reality dawns.
Between Wednesday and Friday the investment deal was downgraded from the 49ers to Leeds United and onto Andrew Cavenagh who sold an insurance firm and who is now heading up the consortium. The 49ers don’t need consortiums to carry out takeovers.
The man set to become the new King of Ibrox is American business tycoon Andrew Cavenagh.
The Daily Record can today reveal Cavenagh’s identity as a key figure behind the US-led takeover of Rangers in a multi-million pound deal which is being backed by the financial might of the San Francisco 49ers. We understand Cavenagh has taken on a senior role in the consortium which also includes 49ers big hitter Paraag Marathe.
Cavenagh – who has amassed a personal fortune building his Philadelphia based health insurance firm ParetoHealth – was also given the red carpet treatment in the directors’ box at Ibrox on January 12 for a 3-1 top flight win over St Johnstone.
For such a big-hitter Cavenagh has a very low profile on the internet, the whole story started to fall apart at tea-time on Friday when Dave King emerged to reveal that he was the driving force behind the fakeover.
You can instantly dismiss Douglas Park from anything with fingerprints leading back to the South African based ‘businessman’ who quit Ibrox in a hurry in March 2020 while demanding and receiving his loan back in full plus interest. Park inherited that millstone.
King’s role has killed the story stone dead. For five years he has been trying to sell off his shares which are now reduced to less than 13% of the club but still the largest individual block.
No one in the Ibrox boardroom is interested in consolidating their stake by buying out King, any outside investor will discover worthless stock and the cold shoulder awaiting from other investors.
Fortunately the Record has Barry-mania to occupy their Sports Desk and Army of Readers, the fakeover was little more than a 48 hour wonder.
Anyone looking under the bonnet of the club will discover the extent of Phil Clement’s pay-off, if he opts for extended gardening leave like Giovanni van Brionckhorst it will be a long running drain on limited resources.
Barry Ferguson and his new coaching team are probably being paid less than half of Clement’s salary with backroom figures like Alex Rae and Colin Stewart also on gardening leave.
The losses for this season will include hosting five matches at Hampden, missing out on the Champions League Play Off and three less Scottish Cup ties compared to last season which saw recorded losses of £17.2m.
Since July 1 transfer fees have been committed for Robin Propper, Jefte, Hamza Igamane, Connor Barron and Nedim Bajrami. In July Lens are due a fee of £4m for Osccar Cortes.
Good news for Record readers is that talks are genuinely at an advanced stage to provide them all with a cut out and keep Barry Ferguson mask if he can steer the Tribute Act to a win at Kilmarnock tonight.
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2 Comments
by Valentine's day massacre
Talks have allegedly been ongoing since before the turn of the year between theRangers and the ‘ consortium ‘ , yet those daily Record scoops with noses of the calibre of Basset Hounds and Hyenas , could not sniff out anything to report on ! Inaction’s ‘ moles ‘ inside Ibroxland couldn’t be bothered to lift the phone for any kind of heads up about this ‘ exclusive of exclusives ‘ until 2 months later . His self titled ‘ Scotland’s most Influential columnist ‘ heading , has been completely exposed as garbage ..yet again …. hhiicccuuppp!
by Derek
A guess it’s Barry masks all round ,😂😂😂I expect them to be worn at next match