American organization successfully concludes Rangers ownership transfer in UK
In a significant development, a consortium spearheaded by health insurance mogul Andrew Cavenagh and 49ers Enterprises – the investment division of the renowned San Francisco 49ers NFL team – has secured a dominant 51% majority stake in the prestigious Glasgow football club, Rangers.
As part of the transaction, Cavenagh assumes the role of chairman, while Paraag Marathe, chairman of Premier League side Leeds United and the president of 49ers Enterprises, takes on the position of vice-chairman.
The acquisition, which is subject to shareholder approval at a meeting scheduled for June 23, will provide the necessary funding for the club's close-season signings. The funds will be sourced through a new share issue.
The Scottish Football Association has given its consent to the acquisition, following a review of dual ownership issues. It is worth noting that 49ers Enterprises already holds a majority stake in Leeds, who secured promotion from the Championship this season.
With this fresh investment, Rangers aim to accelerate their strategic recruitment of a new manager. Leading contenders include Real Madrid's departing assistant manager Davide Ancelotti and former Southampton boss Russell Martin.
Speaking about the acquisition, Cavenagh expressed gratitude and emphasized the importance of harnessing the club's history to elevate performance and secure competitive success. Marathe echoed these sentiments, highlighting the conglomerate's commitment to fostering sporting and business success.
Rangers ended the 2024-2025 season in second place in the Scottish Premier League, trailing their Old Firm rivals Celtic by 17 points. The team also failed to win a trophy. Unsurprisingly, the new owners have identified ending Celtic's dominance as their top priority.
In summary, Andrew Cavenagh and 49ers Enterprises have assumed control of Rangers Football Club with a 51% majority stake, bringing financial muscle and ambitious plans to restore the club to its former glory. The new ownership intends to focus on enhancing team performance, delivering results, and challenging Celtic's reign at the top of Scottish football.
- The new ownership of Rangers Football Club, led by health insurance mogul Andrew Cavenagh and 49ers Enterprises, aims to elevate performance and secure competitive success in both the Scottish Premier League and European-leagues.
- In the realm of sports business, 49ers Enterprises, the investment division of the San Francisco 49ers NFL team, has taken a majority stake not only in Rangers but also in Premier League side Leeds United, showcasing their extensive interest in football.
- The acquisition of Rangers by health insurance mogul Andrew Cavenagh and 49ers Enterprises marks a significant step in football, as they aim to accelerate the club's strategic recruitment efforts, including the hiring of a new manager from renowned sources such as Real Madrid and Southampton.
