Paraag Marathe has returned to the board of Rangers International Football Club Limited as a director, according to a Companies House filing. His appointment took effect on 18 August 2026. The filing does not say that he has resumed the vice-chairman role he held after the 2025 takeover, and it does not announce a new takeover.
What is the latest Rangers takeover update?
The latest confirmed development is a board appointment, not a new ownership deal. Companies House records Marathe’s appointment as a director effective 18 August 2026, with the filing submitted on 26 August. The filing history also records that his previous director appointment ended on 27 February 2026. Companies House filing history does not explain why he returned or identify him as vice-chairman.
A directorship is a company-board position. It is distinct from an officer title such as vice-chairman, and the filing alone does not establish that Marathe’s former title was restored.
How the Rangers majority-stake purchase began
Rangers announced in May 2025 that a consortium led by Andrew Cavenagh and 49ers Enterprises had bought a majority stake in the club, with Scottish FA approval. The club named Cavenagh as board chairman and Marathe as vice-chairman. Rangers’ announcement also described a £20 million investment commitment by the new leadership at that time, subject to shareholder approval at the general meeting scheduled for 23 June 2025. That announcement is evidence of a conditional commitment, not proof that the amount was subsequently paid.
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At the time, Cavenagh said: “Our focus is simple: elevate performance, deliver results, and bring Rangers back to where it belongs – at the top.”
Why Marathe left the vice-chair role
BBC Sport reported that Marathe and Gene Schneur stood down from their Rangers roles in February 2026 after discussions with UEFA about multi-club ownership rules. The report said Rangers stated that the departures did not affect 49ers’ investment and that there were no current plans to replace them. BBC Sport’s report does not establish that UEFA formally required the departures, or that the rules issue has since been resolved.
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What the update means for Leeds United
Marathe is Leeds United’s chairman, and Leeds says 49ers Enterprises owns the club. Leeds’ leadership biography identifies Marathe as president of 49ers Enterprises and describes him as a driving force in the 2025 Rangers majority-share acquisition. Leeds separately announced that 49ers Enterprises assumed full ownership in July 2023 and that Marathe would become chairman. That Leeds transaction is distinct from the Rangers investment.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the filings do—and do not—show
Companies House’s filing summary lists registered share capital of GBP 7,122,230.88 following an allotment on 2 July 2026. That figure describes the company’s registered share capital; it does not, by itself, show how much a particular investor paid or establish the value of the takeover.
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The August 2026 filing confirms Marathe’s director appointment, but does not state the reason for it, restore a vice-chairman title, or report a new transfer of ownership. The available sources also do not establish a specific UEFA determination on multi-club ownership.
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