Rangers have been officialy taken over by a US consortium including the investment arm of the San Francisco 49ers.
Talks have been ongoing for months about the future of the Glasgow club but the group led by Andrew Cavanagh has now purchased 51% of the club’s shares.
£20m of new investment will be made in the summer and a new manager is expected to be named soon.
Rangers Football Club is pleased to announce that a consortium of investors, led by Andrew Cavenagh and 49ers Enterprises, has purchased a majority stake in the club, with approval from the Scottish FA.
The consortium will chart a new strategic vision for the club’s future… pic.twitter.com/x9m40Q2KnT
— Rangers Football Club (@RangersFC) May 30, 2025
The 49ers Enterprises group also owns Leeds United.
“The consortium will chart a new strategic vision for the club’s future prioritising on-pitch performance and long-term financial sustainability,” Rangers said in a statement.
Former Real Madrid assistant Davide Ancelotti – son of Carlo – and former Southampton boss Russell Martin are reportedly among the leading candidates for the manager’s job.
Rangers sacked Phillippe Clement in February with former midfielder Barry Ferguson put in interim charge.
Rangers finished 17 points behind rivals Celtic in the league and did not win a trophy this season.
An open letter from the consortium said: “Our first priority together is clear: hiring a new men’s head coach. That process is already well under way, and we look forward to sharing more updates soon. We will also look to invest in talent for our teams.
“Simply put – our goal is to win trophies in Scotland and be able to compete at a high level in Europe, while laying a foundation of financial sustainability for the future.”
