San Francisco 49ers’ ownership group acquires majority stake in Glasgow’s Rangers football club
Scottish soccer club Rangers has been purchased by a U.S.-based consortium led by Andrew Cavenagh and 49ers Enterprises, the investment arm of the San Francisco 49ers. The consortium bought a majority ownership stake of 51%, with plans to invest £20 million right away. This move comes as Rangers seek to improve performance and compete with rival Celtic in the Scottish Premiership. Cavenagh will serve as board chairman, while Paraag Marathe, president of 49ers Enterprises and chairman of Leeds, will be the vice chairman. The takeover follows a similar acquisition of Leeds by 49ers Enterprises in 2023.
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