Rangers Football Club has announced the purchase of a majority stake in the club by a consortium of investors, led by Andrew Cavanagh and 49ers Enterprises.
The consortium is setting a fresh strategic direction for the club, focusing on improving performance on the pitch while ensuring long-term financial stability.
As part of this new chapter, the leadership group has pledged a £20 million ($ 41.85 million AUD) investment in the club, pending approval from shareholders at the General Meeting scheduled for 23 June 2025.
Cavenagh, a seasoned business and healthcare executive, will take on the role of Chairman of the Board.
He’ll work alongside Paraag Marathe, who joins as Vice Chairman.
Marathe is also President of 49ers Enterprises, the sports investment arm of the San Francisco 49ers, led by CEO Jed York. Together, Cavenagh and Marathe bring decades of experience leading successful businesses and elite sports organisations.
As members of the Board, they’ll play a key role in guiding the club through this next phase.
This isn’t the first time 49ers Enterprises have acquired a stake in a British club, having assumed full ownership of newly promoted Premier League side Leeds United earlier this year, building upon a long-standing partnership that started in 2018.
Cavenagh expressed gratitude for the trust shown in the new leadership and emphasised a clear focus on improving performance and delivering results to restore Rangers to the top.
“We are deeply grateful for the trust placed in us by the Rangers Board, shareholders, staff, and supporters,” Cavenagh said in a press release
“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.”
Marathe highlighted 49ers Enterprises’ commitment to both sporting success and community connection, expressing excitement about helping lead Rangers into a new era that fans can be proud of.
“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,” Marathe said in a press release.
“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.”
The takeover has been granted approval from the Scottish Football Association.
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