Graham Smyth reveals what Leeds United must do to reassure fans as extent of Rangers 'crossover' revealed — YEP 28/2/25

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By Joe Donnohue

YEP chief football writer Graham Smyth does not envisage there being too much 'crossover' between Leeds United and Rangers, should 49ers Enterprises complete a prospective majority shareholding acquisition of the Scottish Premiership club.

It is anticipated Leeds could have a sister club of sorts by the middle of 2025 if 49ers Enterprises are successful in acquiring the requisite shareholding in Rangers to take control of the Ibrox club.

Paraag Marathe, Leeds chairman and vice president of football operations at the San Francisco 49ers, is named among the core individuals said to be brokering the deal between existing Gers shareholders and an American consortium, featuring the Californian executive and health insurance magnate Andrew Cavenagh.

Supporters have naturally pondered what developments north of the border could potentially mean for the running of Leeds and whether Marathe will remain in post at Elland Road.

"What it means for Leeds, I don't think it'll mean a whole lot at all," Smyth said on the Inside Elland Road podcast. "Marathe has made it clear in his Financial Times Football Summit address that they would see them as stand-alone just as 49ers, the NFL franchise, is a standalone thing from Leeds United.

"There's no crossover, really, apart from some backroom staff, I wouldn't see a great deal of crossover at all. You might see Gretar Steinsson have an involvement, because he's now kind of in the bubble, not in the Leeds day-to-day, but in the 49ers Football Group, so I don't think there'd be really much impact at all.

"I guess it would just be down to Marathe to show that as chairman of Leeds and as such a big noise Stateside in the other football, that he's not going to be spreading himself too thin, but you can surround yourself with very good people and very good appointments at boardroom level and at decision-making level, so that that doesn't become the case.

"And I certainly don't think Leeds have suffered at all from having a chairman who also has a huge interest in another sporting organisation. It's never felt like that. It's never felt like Leeds have absentee owners. The way Farke has always talked about it makes it sound like they're incredibly present. So as long as that was maintained, then I certainly think you're not robbing Peter to pay Paul. I think there's enough people with enough money involved in the investment vehicle that they should be able to sustain two football clubs that need will certainly need a lot of investment this summer," the YEP chief football writer added on the matter.

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