Former Rangers director Sandy Easdale has emerged as a shock figure in the club’s takeover negotiations – and could hold the key to a deal being struck with US investors.
The Ibrox club have been the subject of a blockbuster bid over recent months by an American consortium who control the San Francisco 49ers.
Led by businessman Andrew Cavenagh and sports executive Paraag Marathe, the move was welcomed by Rangers fans as a chance for a fresh start with major investment.
However, as they seek to gain a 51 per cent stake in Rangers, talks are understood to have snagged slightly due to unexpected resistance from senior figures within the club.
While a deal is still broadly expected to go through eventually, Mail Sport understands that the Americans are having difficulty in reaching the required 51 per cent shareholding.
That has forced them to look elsewhere to try to mop up shares, bringing billionaire businessman Easdale back into the equation as someone who could help facilitate a deal.
Former Rangers director Sandy Easdale could yet have a part to play in American takeover
Rangers fans have been excited about the prospect of US investment in their club
Businessman Andrew Cavenagh is leading the move for a US takeover at Ibrox
Despite being open to selling his shares in 2019, Easdale eventually retained his shareholding and has continued to monitor the takeover situation from afar.
A deeply unpopular figure among Rangers fans due to his previous involvement at the club a decade ago, Easdale continued to hold 5,256,110 worth of shares at Ibrox.
As of last week, Mail Sport understands that figure has now increased to just shy of 10,000,000 after he bought 4,000,000 from the previously invalidated Blue Pitch Holdings.
They were one of four shareholding entities who were essentially ostracised by Rangers in 2015 due to it being unclear who owned the companies.
Easdale held the proxy votes for the four companies, but their right to vote was taken away as well as their right to trade, albeit they retained the shares.
However, Blue Chip Holdings fought the case and recently won a decision in their favour, with Easdale swiftly moving in to buy the 4,000,000 shares.
Easdale’s total shares in Rangers now sit at around 2.25 per cent – and that could prove vital as the Americans look to mop up the required shares to take over.
Despite the fact that he remains a hugely controversial figure among supporters, Easdale is understood to be supportive of the proposed takeover.
Sports executive Paraag Marathe is another key figure in the Rangers takeover negotiations
Businessman Sandy Easdale prepares to take his seat at a Rangers AGM back in 2013
Initial talks about the US ownership bid began in October last year, with the move being made public in February
He is said to recognises the need for fresh investment in Rangers and believes the expertise of a global franchise such as the 49ers could be key in helping monetise previously untapped areas of the business.
Beyond the need for major investment in the playing squad, there is also a recognition that some sections of Ibrox are in a state of disrepair and in need of modernising.
If Rangers can secure a deal with the 49ers chiefs, there is a hope that it could help propel the club to a new level.
It is a remarkable plot twist in the takeover deal given that a figure who had previously been so unpopular among supporters could now help facilitate a deal with the Americans.
Sources have indicated to Mail Sport that frustration could be growing among the US consortium about the length of time it’s taking to thrash out a deal.
Initial talks began as far back as October last year, with the move being made public in February.
However, no formal agreement has yet been reached and one source indicated to Mail Sport that the Americans could walk away if progress isn’t made sooner rather than later.
Sandy Easdale’s adviser Jack Irvine said: ‘Sandy has never stopped monitoring the goings-on at Ibrox and has long known that a major investor needs to take out the Parks and Dave King.
‘The chronic under-investment in players and the stadium cannot go on.
‘As a very active investor in many fields, as diverse as cancer drugs and sports drinks, Sandy believes that a few more million shares in Rangers might be an interesting punt.’
