Rangers Under New Ownership After Deal With U.S. Consortium

Scottish club Glasgow Rangers are under new ownership after an American group of investors including 49ers Enterprises have bought 51% of the soccer team, making a long-awaited takeover official.

Andrew ­Cavenagh becomes the new chair at Rangers with Paraag Marathe, the president of 49ers Enterprises, as vice-chair. 49ers Enterprises is the investment arm of the San Francisco 49ers; the overall group has pledged to invest approximately $22.6 million into the club this summer in transfers for new players.

“We are deeply grateful for the trust placed in us by the Rangers Board, shareholders, staff and supporters,” Cavenagh said. “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.”

Experience Kissimmee in Florida has been selected as the venue for the 2025 North American Rangers Supporters Association Convention, which is scheduled from June 12–15. Rangers have won the Scottish League title a record 55 times, the Scottish Cup 34 times and the Scottish League Cup a record 28 times. It also won the 1972 European Cup Winners Club and were runners-up in the 2008 UEFA Cup and 2022 UEFA Europa League.

“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. “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.”

Rangers’ rivalry in Scotland with Celtic is one of the fiercest rivalries in the world of sport. Rangers finished second in the Scottish Premiership in the 2024—2025 campaign behind rivals Celtic and reached the quarterfinals of the Europa League.

“From my earliest conversations with Paraag and Andrew, I have been excited and confident in the shared vision and what it could mean for the future of Rangers,” said Patrick Stewart, Rangers’ chief executive, who will be among those staying on the board. “Our focus now is on the hard work ahead, preparing thoroughly for the new season, appointing the right men’s head coach, and ensuring we have the structures in place to support success on the pitch.”

In July 2023, 49ers Enterprises completed the takeover of Leeds, which will play in the Premier League next season after winning the second-tier title. Marathe is also chairman of Leeds.