Rangers sale completes with £20m investment

Rangers have been taken over by a consortium of investors led by Andrew Cavenagh and 49ers Enterprises.

The Glasgow-based football club announced that the consortium has purchased a majority stake, acquiring 51% of the SPFL football club following a number of share purchases.

The deal, announced on 30th May 2025, includes an immediate £20m investment. This funding will come in the form of a new share issue, subject to shareholder approval at a general meeting on 23rd June 2025.

The club is also set to move from being a public limited company to private as a result of the takeover.

Healthcare executive Andrew Cavenagh will become chairman, while Paraag Marathe, who is chairman of Leeds United and president of 49ers Enterprises, which is the investment arm of the National Football League’s (NFL) San Francisco 49ers, becomes vice chairman.

Rangers say the Scottish Football Association (SFA) approved the deal late on 29th June after the club sought consent over dual ownership issues.

49ers Enterprises currently owns a majority stake in Leeds United. A similar investment into Hibernian involving the Black Knights, the consortium that owns Bournemouth, was subject to SFA requirements that the stake in the Easter Road club did not exceed 30%.

Andrew Cavenagh, commented, “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, Chairman of Leeds United and president of 49ers Enterprises, 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.”

Patrick Stewart, Chief Executive of Rangers, said, “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. 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.”