Rangers Football Club have announced a significant change in its ownership structure, confirming that a consortium led by American health insurance executive Andrew Cavenagh and 49ers Enterprises has acquired a majority stake in the club via a club website post.
The move, which has received approval from the Scottish FA, ushers in a new era of leadership and ambition for our team. The new consortium have said that they aim to implement a strategic vision focused on boosting on-pitch performance and ensuring long-term financial sustainability.
As part of this commitment, the group has pledged to invest £20 million into the club, pending shareholder approval at the upcoming General Meeting on 23th June 2025.
Whether this will go directly into the transfer budget or will be spent elsewhere within the club is yet to be announced.
Cavenagh is a seasoned business leader, and will take over as Chairman of the Board. He will work closely with Paraag Marathe, who joins as Vice Chairman and currently serves as President of 49ers Enterprises, the sports investment arm of the San Francisco 49ers and as Chairman of English Premier League side Leeds United.
Cavenagh praised the faith he and his fellow investors have received from the Rangers board.
He said: "We are deeply grateful for the trust placed in us by the Rangers Board, shareholders, staff, and supporters.
"Our focus is simple: elevate performance, deliver results, and bring Rangers back to where it belongs, the top."
Marathe added: “We have built a strong record of sporting and business success at 49ers Enterprises, and our deep connection to the clubs and communities we serve drives our motivation.
“We are excited to be part of this new era for such an iconic club.”
The boardroom will also see several new appointments, with Mark Taber, Andrew Clayton, and Gene Schneur joining Cavenagh and Marathe. Current directors Patrick Stewart, Fraser Thornton, John Halstead, and George Taylor will remain on the board.
Departing members Graeme Park, Julian Wolhardt, and Alastair Johnston have been thanked for their service and contributions.
Rangers Chairman Thornton said: “This new ownership phase represents a significant step forward for Rangers FC.
“The incoming shareholders bring not only funding but also deep expertise in strategic planning, infrastructure, and sporting excellence.”
Chief Executive Officer Stewart welcomed the change in leadership.
He said: “From my earliest conversations with Paraag and Andrew, I have been confident in the shared vision. The focus now shifts to preparing for the new season, appointing the right head coach, and ensuring we have the right structures to support success on the pitch.”
The transition signals a bold new direction for the club as it seeks to reassert itself at the top of Scottish football and beyond.
This adds a new dimension of hope for us to reclaim our place at the top of Scottish football- which aside from 2020/21 we have been absent from.
Rangers are also still on the hunt for a new manager with reports suggesting the shortlist has been limited down to Davide Ancelotti, Russell Martin and Francesco Farioli, with former boss Steven Gerrard pulling himself out of the running due to family priorities.