American Consortium Secures Majority Stake in Rangers FC

An American consortium, led by Andrew Cavenagh and 49ers Enterprises, has acquired a majority stake in Scottish club Rangers FC. The new ownership plans a £20 million investment, aiming to enhance performance and return Rangers to the top of Scottish football.

In a strategic move, an American consortium, spearheaded by Andrew Cavenagh and 49ers Enterprises, has taken a majority stake in the Scottish Premiership club, Rangers FC. This development, confirmed by Rangers on Friday, comes with the approval of the Scottish Football Association.

The new ownership plans to inject an impressive £20 million ($26.95 million) into the club, a move expected to transform the club's infrastructure, strategic planning, and enhance sporting excellence. Highlighting the transformative potential, Rangers chairman Fraser Thornton has praised the expertise brought by the incoming investors.

This acquisition arrives as Rangers look to reclaim their place atop Scottish football; they recently finished second behind Celtic for the fourth consecutive year. Andrew Cavenagh emphasized the club's focus on performance, aiming to elevate Rangers back to the pinnacle of success, with aspirations for the Champions League.

(With inputs from agencies.)