Rangers under new ownership after completing deal with US consortium
The Scottish Football Association has approved the takeover, with Rangers keen to stress they are not part of any multi-club model.
The Scottish Football Association has approved the takeover, with Rangers keen to stress they are not part of any multi-club model. Photograph: Jane Barlow/PA
Rangers 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 chairman at Ibrox, with Paraag Marathe, the president of 49ers Enterprises and chairman of Leeds, the vice-chairman. 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 wrestle back control of Scottish football from their city rivals Celtic. Funds so far have been spent securing shares, including from previous chairmen Dave King and John Bennett. Mark Taber, Andrew Clayton and Gene Schneur will join the Rangers board. Patrick Stewart, the chief executive, Fraser Thornton, John Halsted and George Taylor will remain as directors but Graeme Park, Julian Wolhardt and Alastair Johnston are stepping down.
Advertisement
'The consortium will chart a new strategic vision for the club's future prioritising on-pitch performance and long-term financial sustainability,' read a Rangers statement. As part of this process, the club are expected to move from an unlisted public limited company to a private one.
Marathe said: 'At 49ers Enterprises, we have built a track record of sporting and business success, but our driving motivation is our deep connection to the clubs and communities we serve. We are excited to join Andrew and our other consortium of investors in a new era for this iconic club, and we are determined to build something that supporters can be proud of for years to come.'
Rangers remain in the market for a new manager after the sacking of Philippe Clement in February. Gretar Steinsson, who holds a key role within 49ers Enterprises, has been heavily involved in the recruitment process. Davide Ancelotti, son of Carlo, appears to be in pole position to succeed Clement but has been pushing for a swift decision from Rangers amid supposed interest from other clubs. Russell Martin, Francesco Farioli and Brian Priske are also known to have held talks with Steinsson.
With Kevin Thelwell to formally start his job as sporting director of Rangers on Monday, a new manager is likely to be confirmed next week.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hill
23 minutes ago
- The Hill
Trump to meet with Germany's Merz in Washington next week
President Trump is set to meet with German Chancellor Friedrich Merz next week in Washington, marking the first in-person meeting between the two leaders. Merz, the leader of the center-right Christian Democratic Union (CDU), who was elected as Germany's leader in early March, is expected to visit Trump at the White House on Thursday, June 5, Germany government spokesperson Stefan Kornelius said Saturday in a press release. The discussions between the two countries' leaders will focus on bilateral relations between the two, along with discussions around the ongoing Russia-Ukraine war, developments in the Middle East and trade policy, according to Kornelius. A White House official confirmed the meeting details to The Hill on Saturday. Merz, similar to Trump, has been pushing for a ceasefire deal in the more than three-year-long war between Russia and Ukraine. Ukrainian President Volodymyr Zelensky had a meeting with Merz on Wednesday in Berlin. There, Merz said that Germany will bolster its backing of Ukraine as part of a more than $5.5 billion agreement, including sending over more military equipment and increasing weapons manufacturing in Kyiv. Germany's chancellor has clashed with members of Trump's administration over the country's government marking the far-right Alternative für Deutschland (AfD) party as an 'extremist' political entity. 'Germany just gave its spy agency new powers to surveil the opposition. That's not democracy—it's tyranny in disguise,' Secretary of State Marco Rubio wrote earlier this month on social media platform X. 'What is truly extremist is not the popular AfD—which took second in the recent election — but rather the establishment's deadly open border immigration policies that the AfD opposes.' Vice President Vance piled on, accusing the government of trying to 'destroy' AfD, which also considers tech billionaire and Trump ally Elon Musk a strong supporter. Merz has pushed back on Trump administration's officials meddling in Germany's domestic politics. 'We have largely stayed out of the American election campaign in recent years, and that includes me personally,' Merz said in an interview with Axel Springer Global Reporters Network that was published on May 7. He added that he told U.S. officials that 'we have not taken sides with either candidate. And I ask you to accept that in return.'
Yahoo
38 minutes ago
- Yahoo
People Cannot Believe Donald Trump Made This "Absolutely Vile" Comment About Joe Biden After His Recent Cancer Diagnosis
Last week's news of former President Joe Biden's prostate cancer diagnosis shook the country, leading political leaders from both sides of the aisle to send well wishes to the entire Biden family. One person's message in particular surprised many, given their history — President Donald Trump. Following the news, Trump posted a kind message on Truth Social, wishing Biden a "fast and successful recovery." "Melania and I are saddened to hear about Joe Biden's recent medical diagnosis. We extend our warmest and best wishes to Jill and the family, and we wish Joe a fast and successful recovery," the message read. Related: We Asked Tesla Owners To Share Their Thoughts On Driving Their Cars Now, After *Gestures At Everything* Well, those good vibes lasted about a week. While speaking about the "criminals" that he claims were let in under the Biden administration, Trump recently said in a now-viral clip: "I don't think it was Biden, I really don't... He's been sort of a moderate person over his lifetime. Not a smart person, but, uh, somewhat vicious person, I will say." "If you feel sorry for him, don't feel so sorry, cause he's vicious," Trump continued. "What he did with his political opponent and all of the people that he hurt." Related: "I Am So Torn With What You Are Doing" — 11 Posts From MAGA Business Owners Who Are So Close To Getting It "He hurt a lot of people, Biden. And so, I really don't feel sorry for him." As you can imagine, people have been outraged by Trump's insults given the recent news of Biden's cancer diagnosis. Here's what they're saying online: "What an absolutely vile piece of shit human being," this person wrote in response to Trump's comments. "I knew he didn't write that statement bc he's not capable of actual empathy," another wrote, referencing Trump's Truth Social post. "Also he's doing everything to hurt people but has the audacity to call a man who only ever tried to help this country vicious." "You can hate Joe Biden all you want, but take a look at how he reacted to Trump getting shot and compare it to this." What are your thoughts? Let us know in the comments below. Also in In the News: Miss USA's 2024 "National Costume" Has Been Revealed, And It's Obviously An Interesting Choice Also in In the News: One Body Language Expert Spotted Something Very Telling When Donald Trump "Held His Own Hand" At His Recent Press Conference Also in In the News: 18 Major Global Events That American Media Is Ignoring Right Now, And Why They Actually Matter To Us
NBC Sports
39 minutes ago
- NBC Sports
Ben Shelton, Frances Tiafoe, Tommy Paul try to add to best French Open for U.S. men in decades
PARIS — It's been 30 years since three American men reached Week 2 at the French Open. Back then, it was Andre Agassi, Michael Chang and Jim Courier — each of whom won the tournament at some point. This go-round, the trio is Tommy Paul, Ben Shelton and Frances Tiafoe, all scheduled to be on court Sunday in fourth-round action at Roland-Garros. 'Yeah, about time,' joked Jessica Pegula, who advanced Saturday to give the U.S. at least three women in the round of 16. 'It's exciting to see. Obviously you want to see your fellow countrymen do well on the other side, and I'm always actually keeping up with them quite a lot. So I hope they keep it going.' Who do the American men left in the French Open play on Sunday? Won't be easy, of course, perhaps especially for the 13th-seeded Shelton, the big-serving lefty who goes up against defending champion Carlos Alcaraz of Spain for a berth in the quarterfinals. No. 12 Paul takes on No. 25 Alexei Popyrin of Australia; No. 15 Tiafoe meets unseeded Daniel Altmaier of Germany. Not since Courier and Pete Sampras in 1996 have multiple Americans made it to the quarterfinals in Paris. Historically, the slower red clay used at the French Open has not been particularly kind to men from the United States. Some of that is simply that they tend to grow up playing mostly on hard courts, which reward a big-strike style of hard-hitting tennis, and so they are not as accustomed to the patience and footwork required on the red dirt. 'I really do think everyone can play on this surface,' said Paul, an Australian Open semifinalist two years ago. 'I remind myself it's just tennis.' But for years, Paul said, he was not excited to participate in the French Open. And that's coming from someone who won the event's junior title as a teen in 2015. 'Now I come over here and I look at it as an opportunity,' said Paul, 28, who grew up in North Carolina. 'I think all the Americans do.' Andre Agassi in 1999 was the last US man to win the Roland-Garros title Agassi, in 1999, was the last American man to win the trophy at the French Open — and the nation hasn't had a male finalist since then. Before that, it was Courier in 1991 and 1992. Before that, it was Chang in 1989. And before that, you have to go all the way back to Tony Trabert in 1954 and 1955. American women have had much more success: 15 singles titles in the Open era, including seven for Chris Evert and three for Serena Williams, plus 13 runner-up showings, most recently by Coco Gauff in 2022. 'It's super critical not to worry about what was and just worry about what is,' said Tiafoe, a 27-year-old from Maryland who twice made the semifinals at the hard-court U.S. Open but began his Roland-Garros career by going 0-6. 'Currently we're at the French Open, and just try to be elite. This is where it counts. So guys just believe it.' Unlike in New York, where Tiafoe is the center of attention and a fan favorite, a scene he loves — 'There is so much anticipation; there's so much energy' — Paris, he said, presents 'a different vibe' and 'more of a low-key kind of thing.' So far, so good. Ben Shelton tries to stop the defending champion in Paris There wasn't likely to be anything low key about Shelton vs. Alcaraz in the main stadium, Court Philippe-Chatrier. They are among the flashiest, most entertaining athletes in men's tennis at the moment. Alcaraz is seeded No. 2. At 22, the same age as Shelton — who won an NCAA title for the University of Florida — Alcaraz already owns four Grand Slam titles, with at least one each on the clay at the French Open, the grass at Wimbledon and the hard courts at the U.S. Open. 'That's a pretty cool opportunity, pretty cool experience, that not a lot of people get or see in their lifetime,' said Shelton, a semifinalist at the U.S. Open in 2023 and the Australian Open in January but 2-2 at Roland-Garros before this year. 'For me, I'm definitely going to enjoy it and go out there and see what I can do, because I'm starting to gain some speed, gain a little bit of traction, on this surface and starting to see some of my best tennis. I like to think of myself as dangerous whenever I get to that place.'
