Scottish football giants Rangers have officially confirmed a major change in ownership, announcing that a U.S.-based investor group has secured a controlling interest in the club. The consortium is led by health insurance entrepreneur Andrew Cavenagh alongside 49ers Enterprises, the investment arm associated with the San Francisco 49ers.
According to the club, the group has acquired a 51% majority stake, although the exact purchase price has not been made public. This landmark deal signals a fresh chapter for Rangers as they look to reassert themselves at the top of Scottish football.
Immediate Investment Plans
Rangers revealed that the new ownership group has pledged an immediate investment of £20 million (approximately $27 million). This funding is expected to support both on-field performance and broader club development, subject to formal shareholder approval scheduled for June.
The move highlights the consortium’s intent to act quickly rather than take a wait-and-see approach, reassuring supporters that ambition and financial backing are central to the new strategy.
49ers Enterprises’ Growing Football Portfolio
The involvement of 49ers Enterprises further strengthens the group’s sporting credentials. In July 2023, the organization completed its full takeover of Leeds United, who are set to compete in the Premier League next season after lifting the Championship title. That success has added confidence that a similar long-term vision could be applied at Ibrox.
Context Within Scottish Football
Talks surrounding a potential takeover have been ongoing for several months, particularly after Rangers finished well behind fierce rivals Celtic in the Scottish Premiership this season. Celtic’s dominance has been clear, with four consecutive league titles, increasing pressure on Rangers to modernize and rebuild.
The new ownership hopes to close that gap and restore Rangers as consistent title contenders, both domestically and in European competitions.
Leadership Changes at Board Level
Andrew Cavenagh, co-founder of Philadelphia-based Pareto Health, will step into the role of chairman of the Rangers board. Speaking after the announcement, he emphasized that while Rangers’ history is legendary, future success must be earned on the pitch.
“This club’s history and traditions speak for themselves, but history doesn’t win matches,” Cavenagh said. “Our focus is simple: elevate performance, deliver results, and bring Rangers back to where it belongs — at the top.”
Paraag Marathe, president of 49ers Enterprises, will serve as vice chairman. Marathe also works closely with San Francisco 49ers CEO Jed York, reinforcing the strong leadership structure behind the investment.
Looking Ahead
With fresh capital, experienced sports investors, and a clear performance-driven message, Rangers supporters will be hopeful that this takeover marks the beginning of a more competitive and successful era for the club.
