Alious
Rangers supporters are daring to dream of a seismic shift in Scottish football as a blockbuster American-led takeover inches closer to completion. After more than a decade of watching Celtic dominate the domestic scene, hope is growing that the financial clout and strategic nous of U.S. investors could finally help restore the Ibrox club’s status as top dogs in Scotland.
The group behind the move is fronted by Andrew Cavenagh, executive chairman of the $5bn-valued ParetoHealth, and backed by Paraag Marathe, president of the San Francisco 49ers’ investment arm, 49ers Enterprises. The consortium has already made waves in England through its ownership of Leeds United, and is now looking to replicate that blueprint in Glasgow. According to *Record Sport*, the deal could be finalised before the end of the month, marking the end of the current regime led by Dave King, John Bennett, and Barry Scott.
Both Cavenagh and former Premier League defender Gretar Steinsson—who now serves as technical director at Leeds—have already been spotted at Ibrox, including at the club’s recent derby win over Celtic. Their visible presence is seen as a clear statement of intent as they prepare to usher in a new era.
If the Leeds model is any indication, Rangers could be in for a radically different approach to squad building and club finances. At Elland Road, the 49ers implemented an aggressive player trading strategy that has seen significant profits made through well-timed sales. Star players like Kalvin Phillips, Raphinha, Archie Gray, and Crysencio Summerville were moved on for hefty fees, bringing in over £100m in just two transfer windows.
That kind of forward planning and profit-focused model could mark a stark contrast to recent seasons at Ibrox, where several key players—such as Ryan Kent and Alfredo Morelos—left the club for free. With the Americans likely to prioritise maximising player value, Rangers could soon become much more strategic when it comes to selling talent.
Marathe acknowledged the balancing act involved, saying of Leeds’ transfer decisions: “There are trade-offs we have to make… we’ll have to figure out which moves allow us to remain compliant with profit and sustainability rules.”
However, the model isn’t without its risks. While Leeds may be pushing for a Premier League return, they’ve also posted some of the most severe financial losses in the Championship. Last season alone, the club recorded a £61m pre-tax loss—almost double that of the year before—mainly due to reduced broadcasting income after relegation.
Despite these figures, football finance expert Kieran Maguire sees some positives. He highlighted the club’s impressive commercial performance, pointing out that Leeds’ gate receipts and sponsorship revenues remain among the highest outside the Premier League. “Leeds made more money from ticket sales in the Championship last season than they did in the Premier League,” Maguire told the BBC. “Their commercial income is also higher than many Premier League clubs.”
That insight offers a promising parallel for Rangers, whose fanbase consistently fills Ibrox and who could now benefit from a fresh commercial strategy under U.S. leadership.
As the takeover edges closer, one thing is clear: if executed well, the new ownership could transform Rangers both on and off the pitch. With deep pockets, modern business acumen, and a proven football model, the incoming Americans may just be the catalyst the club needs to end Celtic’s reign and launch a new golden era at Ibrox.
Alious
