Rangers New American Owners Complete Takeover, Promise £20m Investment

A consortium led by healthcare executive Andrew Cavenagh and 49ers Enterprises has completed a takeover of Rangers, acquiring a 51% majority stake and promising a £20 million investment primarily aimed at strengthening the football squad. Cavenagh will serve as chairman and Paraag Marathe, president of 49ers Enterprises and chairman of Leeds United, will be vice-chairman. The Scottish Football Association approved the deal after addressing dual ownership concerns, as 49ers Enterprises also holds a majority stake in Leeds United. The funding will be raised through a new share issue pending shareholder approval, and the club will transition from a public limited company to a private entity. The takeover is expected to accelerate the search for a new manager, with outgoing Real Madrid assistant Davide Ancelotti as the leading candidate. The new owners emphasized their commitment to elevating the club's performance to return Rangers to the top of Scottish football while also focusing on long-term financial stability.