Glasgow Rangers are set for a change of ownership. The Scottish record champions have confirmed that talks are underway with the investment arm of NFL franchise San Francisco 49ers.
After Premier League newcomers Leeds United, the investment group behind the San Francisco 49ers is set to make its next takeover of a traditional British club. Scottish record champions Glasgow Rangers confirmed in a joint statement that they are in talks with 49ers Enterprises Global Football Group, the investment arm of the five-time Super Bowl winners.
The club from the Scottish port city confirmed that “productive talks” are underway. The statement went on to say that the new investors are seeking a majority stake. Exact sums have not yet been confirmed.
This is in line with British media reports, which expect a deal to be finalized by June at the latest. According to these reports, the two investors, Andrew Cavenagh and 49ers Enterprises President Paraag Marathe, are set to take over at least 51 percent of Rangers shares as co-CEOs for the upcoming 2025/26 season.
Next takeover after Leeds
This would be the next football club takeover for the NFL franchise’s investment arm, which already took full control of Leeds United in July 2023 as part of a deal worth around €200 million. The Whites have already secured promotion to the English top flight this season and are top of the Championship table on matchday 44 with 94 points and the best goal difference.
As Scottish statutes actually prohibit dual ownership, the former banker and investor Cavanagh plays a key role in circumventing the rule. The US investors ruled out a multi-club model in which Rangers would act as a farm team for Leeds, according to the Financial Times. “We haven’t considered that. Every club deserves our full attention and effort,” Marathe said.
In sporting terms, Rangers are still in the shadow of arch-rivals Celtic Glasgow following their reformation and promotion. Since 2011, they have won only one league title (2021) and one cup (2022) against their city rivals. They are also behind Celtic in the championship race this season and are 15 points behind the leaders in the current championship round.
