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I introduced 49ers to Rangers - Ibrox takeover deal is 'groundbreaking'

Les Allan has opened up on his role in the takeover discussions between Andrew Cavenagh, Paraag Marathe, 49ers Enterprises and Rangers sherholders.

The investment banker, from Edinburgh, played a key role in introducing the parties to begin negotiations over a takeover in Glasgow.

"Like you say, hopefully the deal concludes successfully," said Allan, appearing on The Warm-Up. "At this moment in time, the deal I think is a groundbreaking one if it happens for Scottish football.

"My involvement...I wish I could tell you I had this grand plan of becoming an investment banker and buying and selling football clubs and other sports businesses but it is not the way it happened.

"It's just decades worth of relationships on both sides of the transaction. We did some work with Andrew Cavenagh and finding a club for Andrew specifically.

"He was very detailed in what he was looking for. He has done a lot of work in looking for something that would meet his requirements and ambitions.

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"In the last few months, he teamed up with the 49ers and that changes the game a little bit when you are starting to work with an organisation quite as established at the top table of the sports world and the commercial relationships.

"When a connection of mine said, 'Do you think you've got an idea who might be interested in Rangers?' then it didn't take longer than 24 hours of a thinking process.

"Quick connections to Rangers shareholders and so ended up where we are today."

Allan, who is a Hearts supporter, reckons the 49ers deal could also bring further US investment in Scottish football over a period of time.

He added: "Yes. I think Rangers fans and Scottish football fans [should be excited]. Remember that the NFL, they own the San Francisco 49ers, one of the most successful franchises, apparently worth up to $9bn are coming into Scottish football.

"So yes as Rangers fans I would be super excited but as Scottish football fans you've got yo think that's going to draw the attention of other American sports owners at that level and that's what's happened over a period with the Premier League in England is that suddenly, you're in that room."

Les Allan appeared on The Warm-Up, the William Hill SPFL's weekly preview show. Check out the full episode here: https://www.youtube.com/@TheWarm__Up

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