Rangers Set for Major Takeover by American Investment Group
Rangers Football Club has reached an agreement in principle for a significant takeover with an American investment consortium following extensive negotiations. The deal, led by Paraag Marathe, the president of 49ers Enterprises, alongside health insurance mogul Andrew Cavenagh, will see them acquire a controlling 51 percent stake in the club, granting them boardroom authority.
49ers Enterprises, the investment arm of the NFL’s San Francisco 49ers, already owns Leeds United, with Marathe serving as chairman of the Championship side. This takeover marks a pivotal shift in Rangers’ ownership structure, which is currently dominated by a collective of smaller shareholders.
Due diligence is currently underway after negotiations commenced in October 2024, with optimism surrounding the completion of the agreement before the start of the 2025-26 season.
Transforming Rangers’ Ownership Landscape
This acquisition represents a comprehensive restructuring of Rangers’ ownership, which predominantly consists of minor shareholders. Among these shareholders, Dave King stands out as the largest, having agreed to divest his 12.96 percent stake to the incoming investors. Other shareholders prepared to sell their stakes include:
- Douglas Park – 11.54 percent
- George Taylor – 10.22 percent
- Stuart Gibson – 9.53 percent
- Julian Wolhardt – 9.53 percent
- John Halsted – 9.53 percent
- John Bennett – 7.11 percent
Recently, Forbes estimated the value of 49ers Enterprises at approximately £5.7 billion. By acquiring two prominent British football clubs with rich histories and substantial fanbases, the group is clearly articulating a strategic investment vision in the world of football.
Due to their existing involvement with Leeds United, Marathe and the 49ers are restricted to a 29.9 percent stake in Rangers. Consequently, Cavenagh is expected to hold a significant share and play a crucial role in the club’s future direction.
Current Performance and Future Aspirations
As it stands, Rangers find themselves 16 points adrift of their arch-rivals Celtic in the Scottish Premiership. The team has faced challenges this season, including an exit from the Scottish Cup at the hands of Queen’s Park and a defeat in the League Cup final.
During a recent address at the Financial Times Business of Football Summit, Marathe expressed his ambition, stating, “It is doable to replicate the passion I have for Leeds. What we are looking for are clubs with the right foundations, a history of success, and the potential for growth. If you’re a sportsperson who loves the game and views it as a way of life, there’s always enough room in your heart for all your sports properties.”
As the Scottish Premiership sees an influx of American investment akin to that of the Premier League, Rangers joins a growing list of clubs, including Hibernian, St Johnstone, Aberdeen, Dundee, and Dundee United, that are either majority or minority owned by US investors.
