Rangers could soon be taken over by an American business consortium (Image: GETTY)
An American business consortium is reportedly gearing up for a £150million takeover bid of Rangers.
Last year, US business tycoon Kyle Fox pulled back her investment plans after Ibrox shareholders rebuffed her approach. She alleged that certain conditions linked to her interest were not satisfied, with shareholders showing reluctance to sell.
However, according to City AM, while Fox has not re-entered discussions, other US investors are understood to be considering making bids for a minority stake, and they peg the club's value at around £150m.
Former chairman Dave King, who holds a 14 per cent stake and is considered a 'willing seller', along with his successor Douglas Park, who owns 12 per cent, are the club's principal shareholders.
Additionally, eight other entities possess shares of less than 10 per cent each, including the supporters' group Club 1872, which has a 4.96 per cent stake.
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In a revelation made in July, businessman Scott Galloway disclosed he abandoned his intentions to pursue a takeover of Rangers, fearing he might become "the most hated person in the UK".
Back in 2021, there was buzz online about Galloway's potential bid for the Scottish Premiership side while Douglas Park was leading the Glasgow-based club, but no such transaction came to fruition for the American entrepreneur at Ibrox.
Galloway, who amassed his wealth through founding and selling several tech firms and also served on the board of directors of companies such as the New York Times and Urban Outfitters, claims he assembled a 14-man consortium to takeover Rangers.
However, the plan was abruptly halted after speaking to a close ally.
While discussing potential purchases of clubs like Tottenham, he said: "I got together the wealthiest, most famous Scottish people in the US, about 14 of us, and said let's go buy Rangers FC - because it's a publicly traded company.
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"I had it all figured out, a £10million convertible note. Then a friend of mine who is a famous Scottish historian said 'you'd be the most hated person in the UK'.
"He goes 'you know nothing about football, you'd be some American idiot over there' and I was like yeah you're right. He is like 'just go to Rangers games, what are you thinking?"
This latest report will lead to speculation of a potential move being revived.
