Ibrox Takeover and why Edinburgh may be biggest threat to Celtic’s dominance

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The Celtic Star

·3 juin 2025

Ibrox Takeover and why Edinburgh may be biggest threat to Celtic’s dominance

Whether it’s a takeover, a fakeover, a makeover or a shakedown there is a new show in town over at Ibrox and some are getting very excited about it…

VAR decision at Ibrox, theRangers v Celtic, 4 May 2025. Photo Vagelis Georgariou (The Celtic Star)

That’s understandable given some of the names –or one at least –involved. Particularly current chairman of Leeds United, Paraag Marathe – and their past successes across the pond in American football and in the English Championship.

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After all any side who can win the English second tier and do so despite their nearest challengers conceding just 16 goals over the course of the season, whilst also accumulating 100 points over a gruelling 46 game campaign, must be doing something right and as such an element of respect must be shown to those running the show given such an achievement.

Ibrox – theRangers v Celtic, 4 May 2025. Photo Vagelis Georgariou (The Celtic Star)

Described by their legal representatives A&O Shearman as ‘a majority acquisition by a consortium of investors led by Andrew Cavenagh and 49ers Enterprises Global Football Group’ partner Matthew Hamilton-Foyn has stated on his firm’s website that there ‘a primary capital investment into Rangers by the consortium and certain existing shareholders, will drive the club’s strategic vision of elevating on-pitch performance and ensuring long-term financial sustainability’.

It’s rumoured the acquisition of a 51% stake in the Ibrox club has cost the buyers anywhere between £60m and £75m. The club also says £20m of new investment will be made available following a share issue.

If the shoe was on the other foot and Celtic were being taken over by this group, I’d likely have a couple of queries straight off the bat.

James Forrest scores late goal and celebrates. Celtic v St Mirren, Scottish Premiership, Football, Celtic Park – 17 May 2025. Photo Robert Perry Shutterstock

Firstly, if the new shareholders are cash rich why has the £20m been at least partly funded by existing shareholders, some of whom had previously been described as having ‘investor fatigue’ and why is the ownership switching from a PLC to a LTD company?

Despite their PLC status, Rangers were not publicly listed on the stock exchange, but this move ensures shares cannot be offered to the public and arguably at the very least provides an added layer of control for the new regime.

So, on one hand they are limiting their own investment and with the other they are pulling up the drawbridge somewhat when it comes to financial scrutiny.

I’m sure come the EGM scheduled for 23 June there may be more clarity offered on those issues – assuming there is an appetite among the other 49% of shareholders to drill down into the devil in the details.

After all these changes will require 75% support at the EGM and you’d assume, given their previous run-ins with the likes of Mike Ashley, that some may consider a once bitten twice shy approach – assuming they are not blinded by the hype that is.

For those who are of an inquisitive mind it may also be worth asking questions around registering companies in Delaware – just a thought.

But all that aside it appears as if theRangers are joining an interesting group of investors particularly US investors who are getting involved in Scottish football.

Easter Road from above. Hibs v Celtic. 22 February 2025.Photo: Vagelis Georgariou (The Celtic Star)

The Black Knights’ Bill Foley has invested in Hibernian

The Black Knights’ Bill Foley has invested in Hibernian, after great relative success with EPL side Bournemouth, and they seem to now be on an upward trajectory after treading water for some time. Meanwhile Mike Ogren has an 85% stake in Dundee United and Tim Keyes has had the reins at Dundee for more than a decade.

In total there are now seven Scottish clubs with significant US investment and five of them are in the top flight.

Heart of Midlothian v Celtic, Scottish Premiership 31/07/2021. Tynecastle before the Cinch SPFL Premiership match between Heart of Midlothian FC and Celtic FC on 31 July 2021. Photo Malcolm Mackenzie PSI

Add to that Hearts have followed up an involvement in Jamestown Analytics with a substantial investment from Brighton owner Tony Bloom and it would appear external investment is rife in Scottish football.

Bloom’s investment is arguably the biggest threat to Celtic. Whilst respectful to our city rivals’ buyers, Leeds United have not proven themselves at the top level of English football and their player trading model is not as established or successful as Bloom’s approach at Brighton.

Bloom has also proven his adaptability with Belgian side Union Saint Gilloise. They won the first of their 11 league titles in 1904, and their 11th in 1935 but this season ended their 90-year wait for the Belgian league title. Bloom invested in USG is 2018.

Meanwhile Bill Foley’s player trading success at Bournemouth would indicate the real threat to Celtic’s dominance of Scottish football may well come from Edinburgh rather than Glasgow.

Whilst the background is sport from at least one of the investors at Ibrox is impressive to a point, it’s hard to argue against both Tony Bloom and Bill Foley have been relatively more successful, in European football at least, than Leeds United’s owners have been to date.

Michael Nicholson, Chief Executive of Celtic FC looks on from the stands prior to the William Hill Premiership match between Celtic FC and St Mirren FC at Celtic Park on May 17, 2025. (Photo by Ian MacNicol/Getty Images)

It’s difficult to know how Celtic view the changing landscape developing around them, as communication is limited to say the least, but one thing is certain, the professionalism from the capital city clubs is worth preparing for and Celtic cannot afford to be blindsided solely by the takeover at Ibrox.

Niall J

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