Latest news with #ParetoHealth
CBS News
3 days ago
- Business
- CBS News
49ers part of U.S. group buying majority stake of Glasgow Rangers soccer club
Red & Gold Report: 49ers enter the offseason much sooner than expected Red & Gold Report: 49ers enter the offseason much sooner than expected Red & Gold Report: 49ers enter the offseason much sooner than expected Scottish soccer club Rangers confirmed on Friday a U.S.-based consortium that includes an investment arm of the San Francisco 49ers has purchased a majority ownership stake. Rangers said health insurance entrepreneur Andrew Cavenagh and 49ers Enterprises led the consortium of investors that was reported to have bought a 51% stake. The purchase price was not disclosed. The club said the group has committed to invest 20 million pounds ($27 million) right away, subject to shareholder approval in June. Bailey Rice and James Tavernier of Rangers FC applaud the fans following the William Hill Premiership match between Rangers FC and Celtic FC at Ibrox Stadium on May 04, 2025 in Glasgow, July 2023, 49ers Enterprises completed the takeover of Leeds, which will play in the Premier League next season after winning the second-tier title. In Glasgow, takeover talks had been ongoing for months as Rangers finished a distant second to fierce rival Celtic in the Scottish Premiership this season. Celtic has won the league title for four straight years. Cavenagh, co-founder of Philadelphia-based Pareto Health, will serve as Rangers board chairman. "This club's history and traditions speak for themselves, but history doesn't win matches," he said in Friday's announcement. "Our focus is simple: elevate performance, deliver results, and bring Rangers back to where it belongs — at the top." Paraag Marathe, who will be the board's vice chairman, is the president of 49ers Enterprises — a sports investment entity also led by San Francisco 49ers chief executive Jed York. Marathe is also chairman of Leeds.
Yahoo
3 days ago
- Business
- Yahoo
Three Rangers board members depart amid American takeover revolution
Rangers Football Club is now under American ownership following a completed takeover. The club's board has been reshaped, with Graeme Park, Julian Wolhardt, and former chairman Alastair Johnston stepping down. These roles will be filled by Americans Mark Taber, Andrew Clayton, and Gene Schneur. Andrew Cavenagh takes over from Fraser Thornton as chairman. Thornton, however, will continue to be part of the board. Paarag Marathe, head of 49ers Enterprises, steps in as vice chairman. Chief Executive Patrick Stewart, along with John Halsted and George Taylor, remain in their roles. These changes signify a new era for the club, with a blend of familiar and new faces guiding its future. Mark Taber, managing director at Great Hill Partners, a growth equity firm based in Boston, is one of the new board members. Taber, who specialises in healthcare investments, has been on the boards of over a dozen healthcare companies. Read more: Davide Ancelotti to Rangers '99 per cent done' as Italian snubs other offers Celtic-linked Youssef El Kachati teases big move this summer He is also a trustee of Boston Medical Centre's HealthNet health plan and a member of its finance committee. Andrew Clayton, the co-founder and vice-chairman of ParetoHealth, is another new addition to the board. ParetoHealth is a health insurance company founded by Andrew Cavenagh. Clayton, who holds a degree in economics from Swarthmore College, serves on numerous business and philanthropic boards and committees. Gene Schneur, a board member and co-owner of Leeds United, is the third new face. The Florida-based businessman is the managing director and co-founder of SBV RE Investments LLC, a real estate firm specialising in multi-family residential properties. Schneur was also a co-founder and leader of Omni New York LLC and Omni America LLC, which ranked among the United States' top developers of affordable housing. Under his leadership, Omni expanded to more than 800 employees and developed or acquired 94 properties, comprising over 19,000 affordable housing units, with total transaction values exceeding $4 billion. Before establishing Omni, Schneur worked as a mergers and acquisitions attorney at Olshan Grundman Frome Rosenzweig & Wolosky LLP in New York.
