Rangers Football Club have officially broken their silence, confirming for the first time that they are in advanced takeover talks with a consortium of American investors, including the San Francisco 49ers’ investment arm, 49ers Enterprises, and US health insurance tycoon Andrew Cavenagh.
The Ibrox club issued a joint statement with the consortium, describing the ongoing negotiations as “productive conversations” aimed at securing a controlling interest in the Scottish Premiership giants and injecting additional capital into the club.
“Rangers and its existing controlling shareholders are in productive conversations with the two lead members of the Consortium, Andrew Cavenagh and 49ers Enterprises Global Football Group, about the potential for the Consortium to acquire control of the club and to inject additional capital. These discussions reflect a shared recognition of the importance of Rangers FC’s long-term direction, ambitions and management,” the statement read.
The talks, which have been ongoing since late 2024, are expected to result in the US group acquiring at least 51% of Rangers’ shares, with a deal potentially finalised before the start of next season. Sources suggest a resolution could be reached between April and June, though neither party has committed to a specific timeline
Who Are the Investors?
The consortium is led by Andrew Cavenagh, executive chairman of ParetoHealth, and Paraag Marathe, chairman of Leeds United and president of 49ers Enterprises. The 49ers Enterprises, valued at $7.2 billion by Forbes, recently completed a full takeover of Leeds United and are looking to replicate their success at Ibrox. Cavenagh’s business background in healthcare and Marathe’s football expertise are seen as a potentially transformative combination for Rangers.
Club Leadership and Next Steps
Coinciding with the takeover talks, Rangers have announced the appointment of Kevin Thelwell as the club’s new sporting director, set to join from Everton at the end of the season. Thelwell said:
“This is a huge honour for me to be joining a club with the size, stature and expectations of Rangers. From the first conversations, it was clear to me how ambitious the club is, and I’m excited to play a part in shaping its next chapter. I know how much Rangers means to so many people, and that brings both responsibility and motivation. Rangers needs to win. That’s the bottom line.”
Rangers CEO Patrick Stewart added:
“Our Football Review quickly identified the need to appoint a Sporting Director, and in Kevin, we have found an outstanding candidate with terrific experience in the Premier League and the MLS. It will be the role of Kevin, with the full support of myself and the board, to lead our football department and deliver the results our supporters expect and deserve.”
The confirmation of takeover talks has been described as a pivotal moment in Rangers’ modern history, with supporters hopeful that fresh investment and American expertise can help the club challenge domestically and in Europe once again. The 49ers Enterprises, meanwhile, have reaffirmed their commitment to Leeds United, insisting that their involvement with Rangers will not affect their responsibilities at Elland Road.
As negotiations continue, all eyes will be on Ibrox to see whether this American-led consortium can usher in a new era for one of Scotland’s most storied clubs.
