Rangers Football Club has officially entered a transformative new chapter with the completion of a majority takeover by a US-led consortium.
The group, led by healthcare executive Andrew Cavenagh and 49ers Enterprises – the investment arm of the NFL’s San Francisco 49ers – has acquired a controlling stake in the club following approval from the Scottish FA.
The new ownership group has committed to invest £20 million into Rangers at this time. This substantial capital injection is subject to shareholder approval at a General Meeting scheduled for 23 June 2025.
The funds are earmarked to support the club’s new strategic vision, which prioritises on-pitch performance and long-term financial sustainability.
Leadership and Board Changes
Andrew Cavenagh will serve as Board Chairman, working closely with Paraag Marathe, President of 49ers Enterprises, who joins as Vice Chairman.
The new board will also include Mark Taber, Andrew Clayton, and Gene Schneur, each bringing expertise in finance, real estate, and sports management. Patrick Stewart remains as CEO, ensuring continuity during this period of transition.
Cavenagh expressed gratitude to the club’s board, shareholders, staff, and supporters, stating: “We are deeply grateful for the trust placed in us by the Rangers Board, shareholders, staff, and supporters. 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.”
Looking Ahead
The immediate priorities for the new regime include appointing a new head coach and supporting the club’s sporting director, Kevin Thelwell. The £20 million investment is expected to be strategically deployed both on and off the pitch, supporting squad rebuilding, infrastructure upgrades, and a renewed push for success in Scotland and Europe.
With a renewed sense of purpose and a clear strategic direction, Rangers supporters can look forward to a new era of ambition and stability at Ibrox. The club’s rich history is now matched by a forward-looking ownership group determined to write the next chapter in the Rangers story.
