Latest news with #AndrewCavenagh
Daily Mail
2 days ago
- Business
- Daily Mail
This Rangers side can't possibly be ready for Europe, writes GARY KEOWN... and Russell Martin is in big danger of his own Artmedia moment
For years, that iconic badge has been emblazoned proudly on the wall of the main stand at Ibrox. A golden lion on a royal blue background with the word 'Ready' underneath — in big, bold capital letters. If one club looks the absolute opposite of its motto right now, though, it's Rangers. We all know the summer takeover by chairman Andrew Cavenagh and his US consortium ate up a lot of time and energy. We know their plan is one based on long-term investment rather than short-term splurges.
The Guardian
5 days ago
- Business
- The Guardian
US owners have taken over half of the Scottish Premiership – what's in it for them?
A club that plays in red, white and blue was always ripe for American investment. The arrival of Andrew Cavenagh and the San Francisco 49ers as Rangers' new owners has the potential to shake up a Scottish top division that has been won by Rangers' fierce rivals, Celtic, in 13 of the last 14 seasons. It's not just at the top, however, where American money is reshaping Scottish soccer. Six of the Scottish Premiership's 12 clubs are now American-owned. The 49ers' purchase of Rangers wasn't even the only US takeover of a Scottish club this summer: Calvin Ford, the great-great-grandson of Henry Ford, completed a deal to buy Livingston. Scotland's top division is now just one club away from having a majority of American owners. The trend started in 2013 when Tim Keyes and John Nelms turned up at Dundee. Five years later, Mark Ogren bought Dundee United. More recently, Bournemouth owner Bill Foley invested in Hibernian, who have been owned by the Gordon family since 2019, while St Johnstone were bought by Adam Webb. All Americans and all bullish on the untapped potential of Scottish soccer. Of course, American investment in soccer is not unique to Scotland. Half of the Premier League's 20 clubs now under US ownership following Dan Friedkin's takeover of Everton in September, adding the film producer's name to a list that includes Foley, Fenway Sports Group, the Glazers, Stan Kroenke, Todd Boehly and Clearlake Capital, Wes Edens, John Textor and Shahid Khan. Nine EFL clubs, including Birmingham City and Wrexham, are also American-owned, offering a lower on-ramp for those without the funds to go toe-to-toe with a sovereign wealth fund. The on-ramp to get into Scottish soccer is even lower, partially explaining why so many American millionaires have looked north of the England/Scotland border to invest. While the 49ers were able to snag a majority ownership stake in Rangers for £150m ($200m), New York Jets owner Woody Johnson has agreed to pay more than that (£190m/$254m) for a smaller share (44.9%) in Crystal Palace, a club that finished 12th in the Premier League last season. Friedkin had to pay over £400m ($535m) for Everton who have spent the last few seasons flirting with relegation. Rangers can only look enviously over Hadrian's Wall at the self-proclaimed Best League In The World and its associated riches, but they do have access to European soccer. Indeed, the Govan club made a run to the Europa League final three seasons ago and played in the Champions League two seasons ago, earning tens of millions in the process. Today there are more Scottish teams in Europe than ever before, largely due to the creation of the Conference League. The likes of Aberdeen, Dundee United, Hearts, Hibernian, Kilmarnock, Motherwell and St Mirren were previously locked out of continental competition on account of Celtic and Rangers' strength, all have qualified for the Conference League in recent seasons, giving them a path to continental football and associated financial rewards. Sign up to Soccer with Jonathan Wilson Jonathan Wilson brings expert analysis on the biggest stories from European soccer after newsletter promotion This along with the rise of multi-club ownership has changed the investment landscape in Scottish soccer. Hibernian are part of Foley's Black Knight network that includes Bournemouth, Auckland FC and FC Lorient. Brighton owner Tony Bloom recently acquired a stake in Hearts that puts the Edinburgh club under the same umbrella as the Premier League club and Belgian champions Union Saint-Gilloise. Aberdeen have a partnership with Atlanta United. And now, with the 49ers purchase, Rangers have a connection with Leeds United. But which club sits higher in the hierarchy? Scottish fans are insecure about their position in the food chain and the growth of multi-club ownership has only exacerbated that anxiety. Not every new American owner has been welcomed with open arms. Motherwell supporters last year voted against a takeover by US-based Erik and Courtney Barmack, a former Netflix vice-president and a Snap Inc executive. Foley, too, has faced questions. Should Hibernian really be a feeder club to Bournemouth, a team with an average attendance of just over 11,000 last season that had until fairly recently played most of its history in the lower leagues? Perhaps not, but this is the reality of the modern game. It's also an indication of how Scottish soccer needs help. It's been 40 years since a team not called Celtic or Rangers won the title. A study commissioned by the Scottish FA last year said the sport is 'significantly underachieving' in youth potential compared to other countries of a similar size. Just 12% of all minutes in the Scottish Premiership last season were given to players age 21 or under. And while more Scottish teams are involved in Europe, none made it past the group stage of the most recent Conference League, a fact made starker by Irish side Shamrock Rovers' run to the knockout phase last season. The hope was that the new third-tier competition would give Scottish clubs a platform to reach new heights. Instead, it has exposed just how far off the required standard they are. There's no guarantee American money will change any of this. Nelms has been in charge at Dundee for over a decade, but has yet to turn the club into the talent factory he originally planned. St Johnstone suffered relegation for the first time in 16 years last season not long after the arrival of new owners. Their fans expected more. The history of Scottish soccer and the passion of its fans is part of what makes it so attractive to outsider investors. So too is the sense that the Scottish game, with some new ideas and renewed ambition, could be something more. The American dream has taken on a tartan tinge.
The Guardian
5 days ago
- Business
- The Guardian
US owners have taken over half of the Scottish Premiership – what's in it for them?
A club that plays in red, white and blue was always ripe for American investment. The arrival of Andrew Cavenagh and the San Francisco 49ers as Rangers' new owners has the potential to shake up a Scottish top division which has been won by Rangers' fierce rivals, Celtic, in 13 of the last 14 seasons. It's not just at the top, however, where American money is reshaping Scottish soccer. Six of the Scottish Premiership's 12 clubs are now American-owned. The 49ers' purchase of Rangers wasn't even the only US takeover of a Scottish club this summer: Calvin Ford, the great-great-grandson of Henry Ford, completed a deal to buy Livingston. Scotland's top division is now just one club away from having a majority of American owners. The trend started in 2013 when Tim Keyes and John Nelms turned up at Dundee. Five years later, Mark Ogren bought Dundee United. More recently, Bournemouth owner Bill Foley invested in Hibernian, who have been owned by the Gordon family since 2019, while St Johnstone were bought by Adam Webb. All Americans and all bullish on the untapped potential of Scottish soccer. Of course, American investment in soccer is not unique to Scotland. Half of the Premier League's 20 clubs now under US ownership following Dan Friedkin's takeover of Everton in September, adding the film producer's name to a list that includes Foley, Fenway Sports Group, the Glazers, Stan Kroenke, Todd Boehly and Clearlake Capital, Wes Edens, John Textor and Shahid Khan. Nine EFL clubs, including Birmingham City and Wrexham, are also American-owned, offering a lower on-ramp for those without the funds to go toe-to-toe with a sovereign wealth fund. The on-ramp to get into Scottish soccer is even lower, partially explaining why so many American millionaires have looked north of the England/Scotland border to invest. While the 49ers were able to snag a majority ownership stake in Rangers for £150m ($200m), New York Jets owner Woody Johnson has agreed to pay more than that (£190m/$254m) for a smaller share (44.9%) in Crystal Palace, a club that finished 12th in the Premier League table last season. Friedkin had to pay over £400m ($535m) for Everton who have spent the last few seasons flirting with relegation. Rangers can only look enviously over Hadrian's Wall at the self-proclaimed Best League In The World and its associated riches, but they do have access to European soccer. Indeed, the Govan club made a run to the Europa League final three seasons ago and played in the Champions League two seasons ago, earning tens of millions in the process. Today there are more Scottish teams in Europe than ever before, largely due to the creation of the Conference League. The likes of Aberdeen, Dundee United, Hearts, Hibernian, Kilmarnock, Motherwell and St Mirren were previously locked out of continental competition on account of Celtic and Rangers' strength, all have qualified for the Conference League in recent seasons, giving them a path to continental football and associated financial rewards. Sign up to Soccer with Jonathan Wilson Jonathan Wilson brings expert analysis on the biggest stories from European soccer after newsletter promotion This along with the rise of multi-club ownership has changed the investment landscape in Scottish soccer. Hibernian are part of Foley's Black Knight network that includes Bournemouth, Auckland City and FC Lorient. Brighton owner Tony Bloom recently acquired a stake in Hearts that puts the Edinburgh club under the same umbrella as the Premier League club and Belgian champions Union Saint-Gilloise. Aberdeen have a partnership with Atlanta United. And now, with the 49ers purchase, Rangers have a connection with Leeds United. But which club sits higher in the hierarchy? Scottish fans are insecure about their position in the food chain and the growth of multi-club ownership has only exacerbated that anxiety. Not every new American owner has been welcomed with open arms. Motherwell supporters last year voted against a takeover by US-based Erik and Courtney Barmack, a former Netflix vice-president and a Snap Inc executive. Foley, too, has faced questions. Should Hibernian really be a feeder club to Bournemouth, a team with an average attendance of just over 11,000 last season that had until fairly recently played most of its history in the lower leagues? Perhaps not, but this is the reality of the modern game. It's also an indication of how Scottish soccer needs help. It's been 40 years since a team not called Celtic or Rangers won the title. A study commissioned by the Scottish FA last year said the sport is 'significantly underachieving' in youth potential compared to other countries of a similar size. Just 12% of all minutes in the Scottish Premiership last season were given to players age 21 or under. And while more Scottish teams are involved in Europe, none made it past the group stage of the most recent Conference League, a fact made starker by Irish side Shamrock Rovers' run to the knockout phase last season. The hope was that the new third-tier competition would give Scottish clubs a platform to reach new heights. Instead, it has exposed just how off the required standard they are. There's no guarantee American money will change any of this. Nelms has been in charge at Dundee for over a decade, but has yet to turn the club into the talent factory he originally planned. St Johnstone suffered relegation for the first time in 16 years last season not long after the arrival of new owners. Their fans expected more. The history of Scottish soccer and the passion of its fans is part of what makes it so attractive to outsider investors. So too is the sense that the Scottish game, with some new ideas and renewed ambition, could be something more. The American dream has taken on a tartan tinge.
Daily Record
06-07-2025
- Business
- Daily Record
New Rangers regime yet to blow the doors off and three word assessment I heard better be accurate
The only person I know who has been in the same room at Ibrox as Andrew Cavenagh and Paraag Marathe summed up the men in just three words. Humility with confidence. Testimonials don't need to be lengthy and flowery. They just need to be an accurate assessment of the people you have met, bearing in mind they then have to live up to your assessment after that first positive impression. And the first thing the representatives of Rangers ' new owners 49ers Enterprises have to do is win the battle between perception and reality. The perception was that Rangers' takeover and the injection of £20million in fresh investment via a share issue would see dramatic movement on the transfer front. Mobile telephones were poised at Glasgow Airport for the arrival of European football's A-listers at the baggage carousel. The reality is the players who have come in so far could not be described as having come from the exotic end of the market place. Loanees. Undisclosed fees for the permanent buys. And a distinct absence of what might be called marquee signings have made up the nature of what has taken place so far. The perception is the sale of Hamza Igamane to Lille is the start of a proper player trading model to replace the haphazard, and costly, business plan that was carried out under previous regimes at Ibrox. The reality is Rangers fans will want to see the transfer money for the Moroccan recycled. And pronto. The perception is Celtic have tens of millions in the bank that will safeguard their dominance of Rangers when it comes to winning league titles. 'The Bank of Parkhead,' as one radio caller put it, to describe his consummate confidence in the status quo being maintained through financial advantage. The reality is if money alone decided the outcome of football competitions then Celtic wouldn't have lost the Scottish Cup final to Aberdeen. The perception is Russell Martin was a gamble when he was appointed head coach at Rangers and he'll be no match for the lavishly-decorated, consistently-successful Brendan Rodgers at Celtic Park. The reality is Rodgers' experience will long ago have taught him to beware misplaced assumptions and to treat his main rival with professional respect. The perception is Rangers are running out of time to put together a side able to beat Panathinaikos in their Champions League qualifier which would saddle the loser with severe consequences in terms of lucrative earnings lost. The reality is we'll get a clearer picture of their readiness for a tie of that magnitude when Martin makes his touchline debut at Ibrox this afternoon. It's a brave call taking on a side as formidable as FC Brugges in the first match of Russell's time in charge. Supporters' knees, in the time-honoured fashion, are ready to be jerked based on the home side's performance. A city has its reputation as a madhouse to live up to, after all. Martin's team selection, tactics, flexibility and suitability will be judged – and sentence passed – in one afternoon. A win and he's the new Walter Smith. A defeat and the judgement of those who appointed him in the first place will be called into question. You need all the humility and confidence you can get not to buckle under those circumstances. The more excitable element within the Rangers support, which, it would be realistic to suggest, constitutes the vast majority, were doubtless expecting Cavenagh and Marathe to have, in the style of Michael Caine in The Italian Job, blown the bloody doors off the bank by this time. Instead, they've got two guys from Bournemouth, Max Aarons and Joe Rothwell, one a loanee and the other one now into his 30s, along with Emmanuel Fernandez, late of Peterborough United in the third tier of English football. Bournemouth, the last time I looked, are in the English Premier League, and on a comfortable basis. In other words, Aarons and Rothwell have been brought from a league with a far higher pedigree. My radio colleague Ross McCormack, formerly of Leeds and a regular at Elland Road during last season's promotion, is rhapsodic when it comes to Rothwell's contribution while on loan. Fernandez has, meanwhile, been given a four-year deal, which suggests Martin must feel he's taking more than a punt on a hopeful. The perception is the coach's judgement on all matters goes on trial today. The reality is you'd better believe it – and the jurors have a reputation for savage judgements in the event of a guilty verdict.
Daily Record
01-07-2025
- Business
- Daily Record
Rangers name change made official after US takeover and the real impact of move from PLC to LTD is clear
The change has kicked in following a shareholder vote at the EGM last month The holding company of Rangers has officially changed it's name in the wake of the blockbuster US takeover. The Scottish Premiership giants have traded as 'The Rangers International Football Club PLC' since November 2012. However, the company will now be know as 'Rangers International Football Club Limited' as part of the new era under chairman Andrew Cavenagh and 49ers enterprises – led by vice chairman Paraag Marathe The change was voted through at the club's upcoming Extraordinary General Meeting (EGM) which is scheduled for last month at the Doubletree Hilton in Glasgow after receiving the 75 per cent approval required to pass the motion. That changes have now officially kicked in with the Companies House listing for the club changing - with a certificate of re-registration from Public Limited Company to private shared by the government. Rangers have not been publicly listed on the stock exchange despite their PLC status over the last 13 years. As they have become an LTD company, shares cannot be offered to the public which offers an added layer of control for the US consortium as they ramp up their overhaul of the club. The changes are becoming clear on the pitch with new boss Russell Martin landing a transfer kitty with Max Aarons the first player in the door this summer. The Bournemouth loanee is set to be followed by Joe Rothwell as he nears the end of his Cherries' contract - having spent last season on loan at 49ers owned Leeds United - with Conor Coady also on the agenda. You can get all the news you need on our dedicated Rangers and Celtic pages, and sign up to our newsletters to make sure you never miss a beat throughout the season. We're also WhatsApp where we bring all the latest breaking news and transfer gossip directly to your phone. Join our Rangers community here and our Celtic community here. Tune in to Hotline Live every Sunday to Thursday and have your say on the biggest issues in Scottish football and listen to Record Sport's newest podcast, Game On, every Friday for your sporting fix, all in bitesize chunks.
