A U.S. consortium, led by the house owners of the San Francisco 49ers and healthcare tycoon Andrew Cavenagh, has accomplished its takeover of Scottish soccer giants Rangers, the membership confirmed on Friday.
The group of buyers has acquired a 51% controlling stake of the membership and Rangers stated the brand new imaginative and prescient for the longer term prioritizes “on-pitch efficiency” and “long-term monetary sustainability.”
The membership added in an announcement that the brand new management has already invested £20 million ($27m).
49ers Enterprises, the NFL group’s funding enterprise, already owns Leeds United, who not too long ago secured promotion to the English Premier League after profitable this season’s Championship title.
Cavenagh will lead the consortium and has been appointed chairman, whereas Paraag Marathe — the 49ers Enterprises president — will take up the position of vice chairman.
“This membership’s historical past and traditions communicate for themselves, however historical past would not win matches,” Cavenagh stated. “Our focus is straightforward: elevate efficiency, ship outcomes, and convey Rangers again to the place it belongs — on the prime.”
Rangers have gained 55 league titles in Scotland, however this 12 months their tally was matched by archrivals Celtic, who additionally play their soccer in Glasgow. Rangers have didn’t win a title since 2021, whereas Celtic have gained 13 of the previous 14 league titles.
