A US consortium including the investment arm of the San Francisco 49ers has taken a majority (51%) stake in Rangers FC.
They’ve committed to investing £20m this summer, promising to put the club “where it belongs – at the top.”
The takeover was approved today by the Scottish Football Association, following discussion over dual interest – given that 49ers Enterprises holds full control of Leeds United.
It is the lead investor, along with healthcare tycoon, Andrew Cavenagh who will now serve as Board Chairman.
He’ll work alongside Paraag Marathe, who joins the Board as Vice Chairman and is the President of 49ers Enterprises, a sports investment entity also led by San Francisco 49ers CEO Jed York.
“We are deeply grateful for the trust placed in us by the Rangers Board, shareholders, staff, and supporters,” said Andrew Cavenagh.
“This club’s history and traditions speak for themselves, but history doesn’t win matches. We know that the true way to honour the club’s heritage will be to drive performance. Our focus is simple: elevate performance, deliver results, and bring Rangers back to where it belongs – at the top.”
Paraag Marathe added:
“At 49ers Enterprises, we have built a track record of sporting and business success, but our driving motivation is our deep connection to the clubs and communities we serve. We are excited to join Andrew and our other consortium of investors in a new era for this iconic club, and we are determined to build something that supporters can be proud of for years to come.”
Mark Taber, Andrew Clayton and Gene Schneur will join Cavenagh and Marathe as new members of the Board. Patrick Stewart, Fraser Thornton, John Halsted, and George Taylor will remain on the Board. Graeme Park, Julian Wolhardt, and Alastair Johnston are stepping down..
“This new ownership phase represents a significant step forward for Rangers FC. The incoming shareholders bring not only funding but also deep expertise in strategic planning, infrastructure development, and sporting excellence,” explained Fraser Thornton.
“On behalf of Rangers, I also want to put on record our appreciation to the outgoing board members who have selflessly served the club. I also want to acknowledge our major shareholders whose backing has brought the club to this point, the vast majority of whom have chosen to reinvest in the club and continue with us on the next stage of the journey.”
