Latest news with #ParaagMarathe
Scottish Sun
13 hours ago
- Business
- Scottish Sun
Delivering trophies is one thing but changing Rangers' culture might be tougher fix for new owners, reckons Bill Leckie
TWENTY million quid might make you or I happy for the rest of our lives. But in football terms it doesn't even touch the sides. 3 Rangers' new owners, including Andrew Cavenagh, might want to shake things up 3 And guys like Paraag Marathe will want to echo the American sports experience It gets you one-fifth of Bruno Fernandes. Or a year's wages for Mo Salah. If new European champions PSG are feeling generous, it might just about buy you one of their unused subs from Munich on Saturday night. So if any Rangers fans believe this summer's war chest promised by their new owners is enough to get them 'back where they belong' — to quote chairman Andrew Cavenagh's open letter from America — they are kidding themselves. Fact is, it won't. It might get them closer to Celtic next season, it might help them win a trophy. It's only a gesture, though. A down payment. A taste of what might be on tap if everyone knuckles down and gets their act together. Most of all, it appears to be a sign from the 49ers that bringing in new players, much like finding a new manager, is only part of what they have signed up to do. Or, at least, that's how it should be. Because for me, while revitalising the dugout and the dressing room has to be the short-term aim after a dismal campaign, what matters way more is a long-term plan that changes the culture of a club broken from top to bottom. The business culture. The corporate culture. The communications culture. And, maybe most of all, the FAN culture. Sure, if Donald Trump had bought them he wouldn't have changed a thing. Rangers fans react as 49ers takeover completed He'd already be wearing a No One Likes Us We Don't Care baseball cap. He'd be serenading Vladimir Putin with a chorus of No Surrender. Cavenagh and sidekick Paraag Marathe are cut from a different cloth, though. They built the foundations of their sporting empire on the family-friendly, tailgate-BBQ vibe of NFL game days. I can't see them being comfortable with the kind of atmosphere that generations of Ibrox boardrooms accepted not only as normal, but somehow as the look they wanted for their brand. It's an angry place. It's a place that distrusts outsiders, a place that screams abuse about the faith of half its own country. Surely that isn't the image Cavenagh and Co want for their investment? One of snarling faces, of religious hatred, of visiting supporters staring down the double barrels of a shotgun. Not to mention a world of potential sponsors recoiling in shock at the sight? If I was part of this consortium, that banner before the last Old Firm game would have sealed the deal for me as far as the need for cultural upheaval was concerned. It might even have made me think more than twice about whether this was the club for me and my dosh after all. It's clear chief executive Patrick Stewart isn't having the Union Bears thing, at least not in its present trouble-making form. You'd think he'd be telling the 49ers this, though you'd hope they would not only already be aware of it, but also would see it as a no-brainer that it cannot be allowed to go on. After all, if a clean slate applies to the dugout and the dressing room, then surely it should also apply to the stands. As in, if you're not prepared to buy into a new way of thinking, a new attitude, then off you pop and we'll fill your seat with someone who is. At which point, I'm well aware that the emails will start flying in about why the same isn't being written about THEYM across the city, about THEIR intolerances and THEIR anger. But this isn't about 'theym'. 3 Chief executive Patrick Stewart is already trying to make his influence felt Credit: Getty They are not the ones beating themselves up about serial failure on and off the pitch. This is about Rangers. And one of the first things the new people running Rangers have to do if this takeover is to work — genuinely work long-term, not just deliver the punter-appeasing quick fix of some silverware — is to stop worrying about what Celtic are doing, and start getting their own messy house in order. If they are properly serious about the job in front of them, they will set about rebuilding from top to bottom, and succeeding will mean as much as delivering titles and making an impact in Europe. If they are properly serious, they will look ahead to the day when they themselves ride off into the sunset, and promise the club they put up for sale won't trade on sectarianism and loathing its neighbours. That it will be one where mums and dads and kids can sit together and enjoy something as healthy as it is successful. Rangers have had this chance before. When the version run on tick by David Murray hit financial and footballing rock bottom in 2012, they could easily have come back up as a better club — but they blew it. Instead of finding the humility to set a wage structure that would let them rebuild from the ground up, they chucked more money at individual players than the rest of League Two spent among them in a week. Instead of reflecting on the boastful, wasteful, self-entitled mindset that had caused their humiliating fall from grace, they chose instead to blame it all on a world that they believed was out to get them. They either couldn't see — or chose to ignore — the bigger picture that the whole No One Likes Us schtick was dragging them down, and that they needed to re-market themselves as an outward-looking, progressive organisation where everyone was welcome. Today, and for very different reasons, Rangers have that same chance again. It's one they simply MUST grab, and run with like a 49ers wide-receiver in full flight. Keep up to date with ALL the latest news and transfers at the Scottish Sun football page
BBC News
14 hours ago
- Business
- BBC News
What could Marathe's Leeds reign tell us about Rangers?
When 49ers Enterprises completed a much-anticipated takeover of Leeds United in July 2023, the situation was far from West Yorkshire club had been relegated from the Premier League after a chaotic season featuring four different managers, and fans had been left in the dark after relegation was confirmed with a defeat by Tottenham Hotspur seven weeks was no permanent manager following the conclusion of Sam Allardyce's short-term deal, and no sense of what the squad would look like for the season yet, two years on, they are a top-flight club once chairman Paraag Marathe will now become vice-chair at Rangers after a US-based consortium completed their much-anticipated takeover, but what can the Ibrox club expect from a deal involving the 49ers?CHOOSING THE RIGHT MANMarathe and co selected the right candidate to guide Leeds back to the Premier League and picking the right head coach is unquestionably the top priority for the new Rangers a highly-rated manager has crumbled at both Ibrox and Elland Road given the expectation that comes from those two Farke had a track record of success in the Championship and was entrusted to do so again at Leeds, reaching 100 points and claiming the title in the 2024-25 RECRUITMENTUnited have recruited well under Marathe's Summerville, Georginio Rutter and the club's hottest prospect Archie Gray all left in the summer of 2024 after a play-off final defeat by sales demanded another rebuild, but Leeds cannily put together a squad that kicked on to new centre-back Joe Rodon's loan deal was made permanent, while Jaden Bogle and Ao Tanaka were hugely impressive after signing for relatively low transfer fees from Sheffield United and Fortuna Dusseldorf side became less reliant on individual quality and functioned better as a unit in manager Daniel Farke's second season as THE SPOTLIGHTUnlike previous regimes at Elland Road, Marathe is not a man to seek the prefers to conduct business behind closed doors, only occasionally providing statements on club matters. What you do see is a polished, confident individual with a track record of success at high-profile sporting institutions.
Daily Record
2 days ago
- Business
- Daily Record
Rangers to change name in wake of takeover and here's what it means as they shift from PLC to LTD
The holding company of the Ibrox side have traded as 'The Rangers International Football Club PLC' since November 2012 The holding company of Rangers is seeking to change its name in the wake of their seismic takeover as they shift from a public to private company – subject to shareholder approval later this month. The Ibrox side have traded as 'The Rangers International Football Club PLC' since November 2012 but will now be known as 'Rangers International Football Club Limited' in the new era under chairman Andrew Cavenagh and 49ers enterprises – led by vice chairman Paraag Marathe – will see a shift if voted through at the club's upcoming Extraordinary General Meeting (EGM) which is scheduled for June 23 at the Doubletree Hilton in Glasgow. The vote to change needs 75 per cent approval to pass. Rangers who were not publicly listed on the stock exchange despite their PLC status – will now become an LTD, a move which ensures shares cannot be offered to the public. The move to the LTD company is covered in the EGM as shareholders are told what they are voting on. 3. THAT the Company be re-registered as a private limited company under the Companies Act 2006 under the name of Rangers International Football Club Limited 4. THAT, with effect from the Company's re-registration as a private company, the articles of association appended to this general meeting notice (the New Articles) be approved and adopted as the new articles of association of the Company in substitution for, and to the entire exclusion of, the existing articles of association of the Company. The ordinary resolutions are covered by the big announcement on Friday which covers the allotment of nominal shares, the price which has been the price set in recent years to directors investing in Ibrox. It's a new era at the club with nine appointments to the new-look board with Cavenagh and Marathe leading the way. Patrick Stewart, Eugene Schneur, Andrew Clayton, Mark Taber, Fraser Thornton, John Halsted and George Taylor are the seven others who will play key roles. 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.
Scottish Sun
2 days ago
- Business
- Scottish Sun
Inside Rangers' £90million American takeover and latest on next manager search as new owners say ‘focus is simple'
RANGERS' new American owners have vowed to take the club back to 'the top' after sealing their £90million takeover. Fans gathered at Ibrox to celebrate as the historic deal, backed by San Francisco 49ers Enterprises, was finally confirmed. 5 New Rangers chairman Andrew Cavenagh has vowed to bring Rangers to 'the top' Credit: Kenny Ramsay 5 Vice-chairman Paraag Marathe will bring trusted allies to Ibrox with him Credit: PA 5 Patrick Stewart and Fraser Thornton will remain on the club's board Credit: PA New chairman Andrew Cavenagh said: 'Our focus is simple — elevate performance, deliver results and bring Rangers back to where it belongs, at the top.' Champagne corks weren't popped at Ibrox. There were no wild celebrations in the Blue Room when the deal was finally signed, sealed and delivered. Rangers' long-awaited change of ownership was ratified just before midnight on Wednesday. But after months of tense negotiations the famed Ibrox marble staircase was silent. Despite reports to the contrary, consortium frontman Cavenagh was in the US when the final, crucial email from the SFA approving the shareholding agreement landed in his inbox. The legal teams working overtime to finalise the deal were behind their computer screens in London and San Francisco. It was e-signatures that were required to conclude things, rather than a pen swiping across a piece of paper. Everything was done remotely and quietly. By this morning, though, the takeover was announced to the world. Rangers fans react as 49ers takeover completed New chairman Cavenagh was then quick to tell the Rangers supporters everything they wanted to hear about him, vice-chair Paraag Marathe, and the remainder of 49ers Enterprises' investors. In an open letter to fans, they told them: 'We are proud to be entering a new chapter for this extraordinary club. 'This moment is the result of months of thoughtful discussions with club leadership and our shared confidence in Rangers' success going forward. 'To that end we'd like to tell you a bit about our thinking. '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. 'As our first step, we are investing fresh capital into Rangers, which will be strategically deployed on and off the pitch. 'While we recognise the importance of resources, we also believe that thoughtful and disciplined investment, guided by a clear strategy, is the path to enduring success. 'Every decision, whether sporting or business, will be made with the club's success and sustainability in mind. 'We aim to leverage the full strength of 49ers Enterprises' sporting expertise and operational experience, and are confident in Patrick Stewart and Kevin Thelwell to lead this next phase.' This is a fanbase that's crying out for hope after years of heartache, and the heathcare insurance tycoon delivered it. Importantly, there will be an initial £20million investment in the playing squad. This is a modest sum in some respects, yet there was never going to be a scatter-gun financial approach to this buy-out. Inside the rise of ex-Rangers ultras chief turned mob boss waging gangland war across Scotland It's a long-term strategy that Cavenagh and Co believe will bring back sustainable glory days to Ibrox. Crucially, they must now focus on the appointment of a new manager to spend those funds wisely, and make the most of the players at his disposal. Italian coach Davide Ancelotti and former Southampton boss Russell Martin remain the frontrunners — with further talks scheduled for this weekend. Cavenagh is currently NOT in the UK or Europe for face-to-face talks with the dug-out candidates. But all being well, Rangers still hope to name their successor to former boss Philippe Clement in the coming days. Most notably in that regard, sporting director Thelwell officially starts works at Ibrox on Monday to move things forward. The Cavenagh letter added: 'Our first priority together is clear — hiring a new men's head coach. 'That process is already well underway and we look forward to sharing more updates soon. 'We will also look to invest in talent for our teams.' Rangers now have a new-look board with fresh ideas. Patrick Stewart, Fraser Thornton, John Halsted and George Taylor all remain at the club. But Graeme Park, Julian Wolhardt, and Alastair Johnston now step down. 5 Dave King is no longer a shareholder at Ibrox Credit: PA New faces Mark Taber, Andrew Clayton and Gene Schneur — trusted allies of Cavenagh and Marathe — are incoming directors. Crucially, Dave King and John Bennett are now no longer shareholders at all, while Douglas Park, George Taylor and Stuart Gibson have retained just over five per cent between them. At an EGM scheduled for June 23 there will be a motion to move Rangers from an unlisted PLC to a private entity. Overall, it's a huge shift, described as seismic by key figures behind the scenes, which had to happen for this takeover to go through. The letter went on: 'Moving forward, we are reconstituting the board to bring in a few new voices and skill sets. 'We all owe a special thanks to the previous board for their service. 'They stepped up in a difficult moment when the club needed them and laid the foundation for what comes next.' Cavenagh will mainly be based in the US, and will NOT be the day-to-day decision-maker at Ibrox. Former chairman Thornton will continue his front-of-house role alongside chief executive Stewart. But there will be a constant dialogue with the 49ers Enterprises group to rinse every ounce of potential out of Gers, right across the board. Cavenagh was given a VIP guided tour of Ibrox just weeks ago, and it's believed he was vocal about the possibilities that lie ahead for the club. Quite what that will look like, and what happens next, only time will tell. It's understood maximising the stadium by selling the naming rights to the highest bidder is NOT an option being considered. 5 John Bennett's shares have also been bought out Credit: Keith Campbell - The Sun Glasgow Yet Leeds United, promoted back to the riches of the Premier League, have flourished as a football club since the investment from the NFL franchise. Rangers fans will be hugely excited about what the future could now look for them. The letter concluded: 'Above all, we know that true success comes from understanding and honouring what makes this club special. 'In our time getting to know Ibrox, Glasgow, and you, we've felt the pride, history, and passion that set Rangers apart. 'You have made it clear what this club means to you, and we take the responsibility of leading this club seriously. 'We look forward to seeing you at Ibrox soon. For now, we'll keep working, and we can't wait for what's ahead.' Keep up to date with ALL the latest news and transfers at the Scottish Sun football page
BBC News
3 days ago
- Business
- BBC News
Living the American dream? What takeover means for Rangers
Make Rangers Great slogan plastered over the front of hats now being flogged outside Ibrox points optimistically towards a new era for the Ibrox club, one their supporters hope will reignite the team's have been the dominant force in Scotland this generation - winning 13 of the last 14 league titles - and fans of their rivals are rallying at the prospect of a US-based consortium taking over at Ibrox can lead them to the land of what about the questions posed about this new dawn? What will this do for manager hunt? If anything it should bring the process to a close, rather than slow it down. It's been almost two weeks since it was confirmed Barry Ferguson would leave his role as interim head coach, but in reality many fans assumed a new face would be brought in long before that.A new board would need to be across any potential managerial appointment, so their arrival hints filling the vacancy has now moved a step it is remains to be seen, but it will happen soon. Former Southampton manager Russell Martin has been linked in reports, while the Ibrox club have also spoken to Davide Ancelotti, the son of legendary manager Carlo Ancelotti and his assistant with Real an open letter to supporters on Friday, chairman Andrew Cavenagh and vice-chairman Paraag Marathe 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."Watch this space. How big will the transfer kitty be? Certainly more than what it would have been otherwise, but the details of this are sketchy as you may expect on day will be £20m of investment made this summer after a share issue and BBC Scotland Sports News Correspondent Chris McLaughlin believes the vast majority of money will be hurled at football that fits in relation to any money that was already earmarked for transfers, or how player sale money impacts it, remains to be if £20m is thrown at the new manager's budget, is it enough to turn the tide domestically? Last season, Celtic made more than £30m on participation alone in the Champions League before you added in ticket sales. Rangers have a lot of catching up to do if big money is reinvested across the city."The new owners coming in, they do have a limited budget and they want Rangers to be sustainable," football finance expert Kieran Maguire told BBC Scotland. "Celtic have been a fantastic example of how a club can operate on a break-even basis and then make profits through the transfer market and reinvest that."You've got to look at the total cost of recruiting a player and also the fact that Rangers' finances have been not great in recent years, so you do have operational losses to cover." So who is now running the club? The group, which includes the investment arm of the San Francisco 49ers and is led by private healthcare tycoon Andrew Cavenagh, has bought 51% of the Scottish Premiership Cavenagh, chairmanHaving been educated at Swarthmore College in Pennsylvania between 1988 and 1992, Cavenagh started his career in commercial banking, working at several publicly traded insurance served on committees and boards of industry groups such as the Self-Insurance Institute of America (SIIA) and went on to fill executive roles at Berkley Risk and Berkley Accident & Health prior to eventually kick-starting Philadelphia-based health insurance firm ParetoHealth as chief executive in February, ParetoHealth announced Cavenagh was stepping down as chief executive but was staying on in an executive chairman Marathe, vice-chairmanA native of Saratoga, California, Marathe has spent a quarter of a century with American football club San Francisco 49ers, currently serving as both president of 49ers Enterprises, the club's investment wing, and executive vice-president of football addition to being the NFL club's chief contract negotiator and salary cap architect, he oversees the team's football analytics department and also co-chairs the NFL's future of football been on Leeds United's board for five years, he led 49ers Enterprises' takeover of the English club in July 2023, becoming Taber, board memberMark Taber worked for the Westlake Capital Group and The Boston Consulting Group before, in 2000, joining Boston-based growth equity firm Great Hill is currently managing director but is also on the board of Cavenagh's ParetoHealth as well as Intuitive Health, Clearwave Corporation and Labor Clayton, board memberAndrew Clayton, an economics graduate of Swarthmore College, is co-founder of Cavenagh's ParetoHealth and is its current setting up ParetoHealth, he spent five years as vice-president of the Group Captive Division at Berkley Accident & Health and held the same position with J.B. Collins and Associates and Commonwealth Risk Schneur, board memberGene Schneur is currently co-owner of Leeds United and is managing director and co-founder of SBV RE Investments LLC, a real estate company focused on multi-family 2004 to 2023, Schneur was the managing director and co-founder of Omni New York LLC and Omni America LLC, one of the top affordable housing developers in the serves on the board of GrowNYC, an environmental non-profit in New York, and JDC- American Jewish Joint Distribution Committee, a global humanitarian organisation. Kevin Thelwell, sporting director Kevin Thelwell is moving to Rangers from Everton, where he has been director of football having had the same role at Wolverhampton Wanderers and head of sport at New York Red Everton, he previously held the position of academy manager and then head of football development and recruitment, having had similar positions with Derby County and Preston North End respectively. Previous to that, Thelwell was director of coach education for the Football Association of Wales Trust. From 'underwhelming' to 'great news' - What do the fans think? Ryan: As happy as I am that it is now complete, £20m investment is very underwhelming considering what we expect Celtic to spend and the money they have. With so many positions requiring upgrading, £20m won't finance half of it. The old directors would put in more as loans each year. We could do with more detail from the new With the majority of clubs in the English Premier League US owned, are we heading into dangerous ground where change to the whole structure of UK football is under threat? If two more in England are bought, the 14 can then force through whatever they desire and, while the thought of the fantasy of joining and enjoying their vast rewards, do we really want to see the rest of Scottish football collapse?Jimmy: £20m in funds is still not enough. Celtic are obviously still in a stronger position financially. Second place looms again. £20m for transfers? How about £20m so we can get a good manager in? Getting used to these let downs more and What is not to be positive about here? The credentials of the 49ers Enterprises are so impressive that this is beyond our wildest dreams. This takeover can only benefit the club on all fronts and bring much needed sustained success. Clearly it's key to get the right appointment as head coach, but I have every faith in the new board to get it right and get Rangers back to being the dominant team in Scottish This is great news - new thinking, new approaches, building on a great history of success. Getting a manager in the door is the first step, but driving improvements everywhere will be key.
