Rangers Takeover Underway as 49ers Reveal 6 Key Indicators of Their Business Strategy – From Transfers to Trade-offs
As a High-Profile Takeover at Ibrox Nears, Leeds United’s Finances Offer a Preview of What’s to Come for Rangers Fans
Rangers fans are buzzing with excitement over the potential of a major American-led takeover that could end Celtic’s dominance and bring success back to Ibrox.
After securing only one Premiership title in the past 13 seasons, this could mark a significant shift in the club’s fortunes.
A US consortium fronted by Andrew Cavenagh, executive chairman of $5bn-valued insurance company ParetoHealth, is closing in on a deal to take control.
The group aims to buy out key stakeholders including Dave King, John Bennett, and Barry Scott, along with smaller shareholders.
The deal could be finalised by the end of the month.
Cavenagh is working alongside Paraag Marathe, president of 49ers Enterprises—the investment arm behind NFL’s San Francisco 49ers.
The consortium also owns Leeds United, currently competing for a return to the English Premier League.
Last year, Leeds secured a landmark sponsorship deal with Red Bull.
Cavenagh and Gretar Steinsson, Leeds’ technical director and former Premier League player, have already been seen at Rangers games, including their recent derby win over Celtic.
Under this potential new ownership, Rangers may adopt a player trading strategy similar to that used at Leeds.
Since 2021/22, Leeds have made major profits from selling players like Kalvin Phillips to Manchester City and Raphinha to Barcelona, netting a record £73 million.
This contrasts with Rangers’ recent struggles to generate income from player sales, with stars like Ryan Kent and Alfredo Morelos departing for free.
However, the Leeds model also brings concerns.
Despite strong player trading, their financial accounts for 2023/24 reveal staggering pre-tax losses of £61 million—nearly double from the previous year and the fourth worst in Championship history.
Much of this was due to reduced TV revenue after relegation. Leeds have only posted a profit once in the last ten years.
Still, there are positives. Football finance expert Kieran Maguire highlighted Leeds’ impressive commercial and ticketing income, which outperformed many Premier League clubs.
Gate receipts rose to £30.6m, and overall revenue hit £128m—more than double their last Championship campaign.
Operating losses, while still high, improved from £106m to £76m.
Rangers could soon experience a major transformation—financially and on the pitch—if the American consortium succeeds.
