49ers Enterprises Acquires Majority Stake in Glasgow Rangers

Rangers Football Club announced on Friday that a consortium based in the U.S., featuring 49ers Enterprises, has acquired a majority stake in the storied Scottish soccer team.

Leading the investment group is Andrew Cavenagh, a health insurance entrepreneur, alongside 49ers Enterprises. Reports indicate that the consortium has purchased a 51% stake, although the financial details remain undisclosed.

The newly formed group has pledged an immediate investment of £20 million (approximately $27 million), pending shareholder approval set for June.

In a related move, 49ers Enterprises recently completed its takeover of Leeds United, which is gearing up for the Premier League after clinching the second-tier title last season.

Negotiations for the Rangers acquisition have been in progress for several months, coinciding with a challenging season for the club, which finished significantly behind its arch-rival Celtic in the Scottish Premiership. Celtic has dominated the league, securing the title for four consecutive years.

Cavenagh, who co-founded Pareto Health in Philadelphia, will take on the role of chairman for Rangers. "This club's history and traditions speak for themselves, but history doesn't win matches," he stated during the announcement. "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 and also chairman of Leeds United, will serve as vice chairman on the Rangers board. Marathe works closely with Jed York, the chief executive of the San Francisco 49ers, in overseeing sports investments.