Rangers under new ownership after completing deal with US consortium

Group including 49ers Enterprises bought 51% of club Consortium will invest £20m, primarily for transfersRangers are under new ownership after an American consortium, including 49ers Enterprises, completed a deal to buy 51% of the club late on Thursday night. Andrew Cavenagh becomes the new chair at Ibrox, with Paraag Marathe, the president of 49ers Enterprises and chair of Leeds, the vice-chair. The Scottish Football Association has approved the takeover, with the club keen to stress they are not part of a multi-club model.49ers Enterprises is the investment arm of the San Francisco 49ers NFL team. An extraordinary general meeting in late June will approve plans for a new share issue, through which the US-based group will invest £20m into Rangers. That is primarily earmarked for transfer dealings as they seek to wrest control of Scottish football back from their city rivals Celtic. Continue reading...

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