SNS GroupThe new faces in charge of Rangers have been revealed after an American consortium completed its takeover of the club.
US health tycoon Andrew Cavenagh and 49ers Enterprises, the investment arm of American football team San Francisco 49ers, which also runs Leeds United, have bought 51% of the club’s shares.
They want to usher in a “new era” for the “iconic club” and announced a £20m investment in Rangers.
The takeover means a transformation of the boardroom at Ibrox and a new leadership team in place, with changes throughout the club expected to follow, including the appointment of a new manager, which is expected to happen next week.
STV News also understands former chairman Dave King, who was the club’s largest shareholder, has sold his entire stake in the club.
The new-look board will see fresh faces but also some of the existing hierarchy remain.
STV News takes a look at who’s who at Ibrox.
Andrew Cavenagh
SNS GroupCavenagh is the chairman of the club, described as an entrepreneur, chief executive, and investor with decades of business experience.
He said in a statement: “We are deeply grateful for the trust placed in us by the Rangers board, shareholders, staff, and supporters.
“This club’s history and traditions speak for themselves, but history doesn’t win matches. We know that the true way to honour the club’s heritage will be to drive performance.
“Our focus is simple: elevate performance, deliver results, and bring Rangers back to where it belongs – at the top.”
In 2025, the American tycoon led the investment consortium that acquired a controlling stake in the club, injecting additional capital.
An experienced businessman, he has founded three insurance companies, including ParetoHealth, which he started in 2011 and remains executive chairman.
He graduated with a degree in economics from Swarthmore College in Pennsylvania, where he also had a four-year collegiate football career as a goalkeeper and captain.
While he makes frequent trips to Glasgow, his permanent residence is in Pennsylvania with his family.
Paraag Marathe
SNS GroupMarathe currently serves as vice chairman of the board at Rangers.
He is also the chairman of Leeds United, and exercises 49ers Enterprises’ voting rights as a director on the board at Elland Road.
His appointment has been given the green light by the Scottish FA, who are satisfied that his dual interest in Rangers and Leeds is not multi-club ownership and there is an undertaking there would be no prejudice if the teams were to meet in UEFA competition.
Before 49ers Enterprises acquired full ownership of Leeds in 2023, Marathe served as the club’s vice chairman for over two years and as a member of the Board for over five.
He began his career with the 49ers, where he currently serves as both president of 49ers Enterprises and executive vice president of football operations.
He is the team’s chief contract negotiator and salary cap architect, and oversees the team’s football analytics department, among other football duties.
In 2024, Marathe joined the board of the NFL UK Foundation, the charitable arm of the NFL within the UK.
He splits his time between Glasgow, Leeds, and the San Francisco Bay Area.
He said on Friday: “At 49ers Enterprises, we have built a track record of sporting and business success, but our driving motivation is our deep connection to the clubs and communities we serve.
“We are excited to join Andrew and our other consortium of investors in a new era for this iconic club, and we are determined to build something that supporters can be proud of for years to come.”
Fraser Thornton
SNS GroupThornton, who was installed as Ibrox chairman last year, has held senior leadership and board positions in both private and public companies.
An expert in the international drinks industry, he specialises in stakeholder engagement, spanning political, commercial and public interest groups.
He was raised in Glasgow, and graduated from the University of Stirling before qualifying as a chartered accountant in 1993.
Between 1996 and 2021, he held executive leadership positions in international businesses working across several regions of the world.
He was a council member of the Scotch Whisky Association for 15 years.
Patrick Stewart
SNS GroupStewart is the chief executive of Rangers.
He has decades of experience in the sports, entertainment and legal industries after starting his career as a commercial lawyer.
His career at Manchester United as the club’s general counsel spanned 18 years.
In that time he was promoted to the club board and became a director of Manchester United Plc and latterly the club’s CEO.
He joined Rangers in December 2024, replacing former CEO James Bisgrove.
John Halsted
SNS GroupHalsted, an American investor, has over 30 years of private equity experience.
Based in Wyoming, his business interests span the US and Europe.
He has a Bachelor of Arts in Economics from the University of California, Berkeley, and a Masters in Business Administration from the Harvard Business School.
In 2021, he became an investor in Rangers through his family’s holding company, Perron Investments, LLC.
George Taylor
Taylor is a British investment banker and, since 2022, has been a non-executive director of Rangers International Football Club PLC (RIFC), the holding company of Rangers FC.
Born in Glasgow, he has been a key figure in the financial sector, particularly in Asia, and has played a “significant role” in the club’s financial restructuring and governance.
He currently resides in Hong Kong.
Eugene Schneur
Schneur is the managing director and co-founder of SBV RE Investments LLC, a real estate company focused on multi-family housing.
He is a board member and co-owner of Leeds United FC.
He holds a degree from Cornell University in Industrial and Labour Relations, a J. D. from Benjamin Cardozo School of Law, and is a graduate of Stuyvesant High School in New York City.
He and his family live in Miami and are supporters of a number of nonprofits and charitable organisations.
Andrew Clayton
Clayton is a co-founder and vice chairman of ParetoHealth, the firm founded by Cavenagh.
He has led growth and strategy efforts for industry-leading insurance and risk management companies.
He has a degree in economics from Swarthmore College.
Mark Taber
Taber is a managing director and member of the executive and investment committees at Great Hill Partners, a Boston-based growth equity firm.
He focuses on healthcare and is a current or former board member of a number of healthcare companies.
Taber graduated from the J.L. Kellogg Graduate School of Management, where he was an F.C. Austin Scholar and the Jim Packard Memorial Scholar.
He also holds a Bachelor of Arts in public policy from Duke University.
What can Rangers fans expect from the new ownership?
Joe Donnohue, Leeds United Journalist at the Yorkshire Evening Post, said: “I think Rangers fans can approach this with cautious optimism.
“They’ve had extensive experience of the American Football sporting sphere, and being executives at that level, they came on board at Leeds United in 2018 as minority partners to begin with and initially learned on the job, gradually increasing their stake until 2023 when they became the head honchos at Elland Road.
“More recently, from a financing perspective, they raised £120m via a share issue to existing investors, which is designed to help with the Elland Road redevelopment plans and maybe a bit on the side for some transfer targets as well, which is what fans want to hear.
“They want to know that their team is going to be invested in and not scratching around for bargains and things like that.
“So, without being too blasé about it, there is reason for cautious optimism, because, as I say, they are serious business people , they will watch the finances very closely but also they have got significant backing and significant experience in, not only sporting fields, but with the last five of six years at Leeds, in football as well.”
Follow STV News on WhatsApp
Scan the QR code on your mobile device for all the latest news from around the country
