The San Francisco 49ers group, fresh off securing promotion with Leeds United to the Premier League, has now set its sights on Glasgow Rangers. On Friday, the group confirmed it had acquired a 51% controlling stake, laying out a plan for long-term financial sustainability and improving “on-pitch performance”.
The acquisition consortium is led by Andrew Cavenagh, who made his fortune in healthcare and has already invested £20 million ($27 million) in the 55-time Scottish champions. Cavenagh will take on the role of chairman, while Paraag Marathe, president of 49ers Enterprise, will become vice-chairman.
No overall value for the acquisition was given.
“This club’s history and traditions speak for themselves, but history doesn’t win matches,” Cavenagh said. “Our focus is simple: elevate performance, deliver results and bring Rangers back to where it belongs—at the top.”
Football in Scotland is typically a two-horse race between Rangers and their historic rivals Celtic. However, the ‘Hoops’ have dominated the ‘Gers over the last 15 years, winning 13 of the last 15 titles.
In 2012, Rangers went through a severe financial crisis as years of financial mismanagement, questionable ownership decisions, and mounting tax debts set the stage for a dramatic collapse. The situation deteriorated rapidly after businessman Craig Whyte acquired the club from Sir David Murray in May 2011 for a nominal sum. Whyte’s stewardship soon revealed deepening financial woes, primarily due to unpaid taxes and withheld payments to HM Revenue and Customs (HMRC). This led to relegation from the Scottish Premiership.
The 49ers Enterprise Group has been steadily expanding its football portfolio beyond American sports, viewing association football as a key growth market with global reach and untapped commercial potential. Their strategy focuses on acquiring clubs with strong heritage and fan bases that can benefit from their data-driven approach to performance and business operations.
With the new ownership group, it is hoped that Rangers can break Celtic’s dominance and build on the exciting European run the club had this past season.
Insideworldfootball.com
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