Rangers’ potential purchase by 49ers Enterprises prompted Simon Jordan to deliver a harsh verdict on Scottish football in general.
The US-based group, which is associated with the San Francisco 49ers NFL franchise and the primary owners of Leeds United, said on Wednesday that acquisition discussions have begun at Ibrox.
The 49ers are interested in acquiring a majority ownership in Rangers with the goal of gaining complete control of Govan, with Leeds chairman Paraag Marathe intimately participating in negotiations as their primary sponsor.
Rangers’ financial troubles, particularly in comparison to Premiership rivals Celtic, have been well known, but a cash influx from the 49ers might be a game changer for Scottish football.
Simon Jordan blasts the status of the SPFL amid Rangers takeover rumors.
Simon Jordan stated on talkSPORT with Jim White (20 February, 11:53am) that while Rangers are an asset worth spending millions on, the same cannot be said of their Scottish counterparts.
Jordan stated, “Rangers’ market cap is not reflective of their value; their market cap is £17.5 million, which is not reflective of the value that someone will have to pay to buy into Rangers.”
“Scottish football is useless, but Rangers and Celtic aren’t, and I don’t mean that disrespectfully; the TV deals prove that.
“These men aren’t coming in because they like this region of the UK – in this example, Scotland – but because Rangers offer business potential.
“Because of the brand, size and scale of this club, not because of the Scottish Premiership, and because they’re capable of competing in Europe and attracting the benefit of European football.”
49ers Enterprises’ takeover: Can the Rangers Return to the Top?
Jordan is correct in his opinion that, regardless of how much the Gers fall behind Celtic in terms of present finances, the Old Firm teams remain Scotland’s top two by a significant margin.
‘Not being greedy’ – Pundit shares what Rangers shareholders will do after the buyout announcement tonight.
Rangers are in early negotiations with 49ers Enterprises about a takeover, and all eyes are on existing shareholders to see if they would agree to the terms.
Rangers and 49ers Enterprises are in advanced talks for a takeover, according to the Record, which broke the news on Wednesday (19 February).
The United States-led group, led by Leeds United chairman Paraag Marathe, intends to purchase enough shares to become the single largest stakeholder at Ibrox.
However, with the Gers’ shares divided into little chunks among numerous persons, the 49ers will have some convincing to do as they seek to reach an agreement.
Barry Ferguson reacts immediately to takeover news.
Barry Ferguson confirmed his uncensored opinions on the current takeover announcement, stating that he has always advocated for additional investment in the Glasgow-based team.
The former Gers captain, however, refuses to be swept away by the 49ers’ interest, but he is glad that negotiations about a prospective monetary injection are taking place behind the scenes.
When asked if current shareholders in Govan would be prepared to sell their interests, Ferguson stated that he expects them to do what is best for the club.
“You want what is best for the club, and if somebody is coming in and willing to pay what the shares are valued at or what they are worth then I would imagine the shareholders would do a deal” , Ferguson said Go Radio on February 19, 2018.
“It is not just a matter of coming in and buying stock.
“If that is what happens, the new shareholders will put more money in the team.
Ferguson even joked about demanding half a billion pounds for a new investment in his old team.
“As I said I am not being greedy I am only looking for maybe half a billion” , said the comedian. “A wee half a billion will go down well.”
Rangers set for massive cash investment.
Rangers’ poor on-field results, combined with hierarchical mismanagement throughout the years, have rendered them unable to compete financially with Celtic.
For reference, Mohamed Diomande was the Gers’ most expensive purchase of the past summer transfer window, costing little over £4.3 million, while Celtic spent £11 million for Arne Engels.
The reigning Premiership winners also outspent the Ibrox club to buy Adam Idah (£8.5 million) and Auston Trusty (£5 million) last summer, while Jota returned for £8 million in the winter transfer window.
As Ferguson stated, Rangers have been in need of cash injections for a long time, and the 49ers Enterprises’ interest in a takeover is positive news for the club.
Fans will be hoping that the present shareholders do not prevent new owners from entering Ibrox.
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