Paraag Marathe spotted alongside Leeds chief as big-money speculation continues
Leeds United supporters are fixated on their promotion at present, and who can blame them given the hardship at the end of last season.
However, they are fully aware of the commitment task required from Paraag Marathe and the board over the summer to adequately fund the squad ready for battle reunion in the Premier League.
Leeds’ owners, 49ers Enterprises, demonstrated they were all-in when they purchased the Whites for £170million in 2023 – but it now looks as if they are ready to broaden their British football empire with the purchase of Rangers.
Marathe spotted with Gretar Steinsson as takeover progresses
Marathe was of course in attendance at Elland Road on Monday night (28 April), soaking up the celebrations as Leeds United took the first in-game opportunity to party with their fans against Bristol City.
However, Tuesday has seen the 49ers chief head north of the border to Ibrox, where he has been spotted with Steinsson, who was Leeds’ technical director – now primarily with the 49ers but still overseeing matters at Elland Road through the ownership.
As reported by the Daily Record (29 April), Marathe, Steinsson and others including Rangers’ other key consortium leader Andrew Cavenagh were all seen at Rangers’ stadium.
The duo are heading up a group in advanced talks to purchase a controlling 51 per cent stake with the Glaswegians, Record reporter Mark Pirie claiming the deal is “inching close”.
Stadium tours for Tuesday at Ibrox were cancelled in the wake of the meetings, for which it is understood Gers manager Barry Ferguson was not in attendance.
Steinsson had been revealed to be holding discussions with potential managers to replace Ferguson at Rangers next season, a report which emerged from The Athletic (25 April) to extinguish doubts over whether he was attempting to replace the sack-linked Daniel Farke.
Leeds and Rangers could benefit from two-club network
With Steinsson having shifted his role from specifically overseeing Leeds United to the whole of the 49ers network, the Icelander is expected to be heavily involved at Rangers.
While some scepticism is levelled at the concept of sister-club empires, it has been shown to work for a number of English clubs in established groups like Manchester City and Chelsea.
| 49ers Enterprises – potential football network | League |
| Leeds United | Championship – 1st (promoted) |
| Rangers | Scottish Premiership – 2nd |
Leeds and Rangers are similar in that both are giant entities, and the two could end up enjoying an efficient working relationship which could play to the advantage of each regarding transfers and academy development.
A massive summer is in store at each of Elland Road and Ibrox, and the progress of the takeover involving 49ers garners at least a degree of interest among Leeds fans.