Scottish football club Rangers announced on Friday that a U.S.-based consortium, which includes the investment division of the San Francisco 49ers, has acquired a majority stake in the club. The group, led by health insurance entrepreneur Andrew Cavena and the 49ers’ company, reportedly purchased a 51% ownership share, though the purchase price was not disclosed. The consortium has committed to investing £20 million ($27 million) immediately in June, pending shareholder approval.
In July 2023, 49ers Enterprises, controlled by the York Family who owns the NFL’s San Francisco 49ers, completed the acquisition of Leeds United, a Premier League team that earned promotion after winning their second title. Initially, 49ers Enterprises became shareholders in Leeds in 2018 but took majority control following the club’s relegation and subsequent financial discount.
In Glasgow, discussions about the Rangers takeover have been ongoing for months, with Rangers finishing a close second to Celtic, who claimed their fourth consecutive Scottish Premiership title this season. Andrew Cavena, co-founder of Philadelphia-based Pareto Health, will become the Rangers’ board president and emphasized the club’s commitment to improving performance, results, and restoring Rangers to their rightful status.
Parag Malasse, president of 49ers Enterprises and chairman of Leeds United since 2011, will serve as vice president of the Rangers board. The investment group is also led by Jed York, CEO of the San Francisco 49ers, and son of owners John and Dennis York.
Fan Take: This acquisition marks a significant step in the cross-pollination between American football ownership groups and European soccer clubs, opening doors for NFL fans to engage with global sports ventures. It signals potential new investment trends and increased collaboration between sports leagues, enriching the fan experience and broadening the sports entertainment landscape.
