US-based group completes Rangers takeover

A United States-based group completed their takeover of Scottish Premiership club Rangers on Friday and immediately pledged to make a £20 million ($26 million) investment in new signings. (X/@RangersFC)
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Updated 30 May 2025
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US-based group completes Rangers takeover

  • The consortium of investors, led by Andrew Cavenagh and 49ers Enterprises, purchased a majority 51 percent stake in the Glasgow team
  • Rangers said the Scottish Football Association approved the deal late on Thursday night

GLASGOW: A United States-based group completed their takeover of Scottish Premiership club Rangers on Friday and immediately pledged to make a £20 million ($26 million) investment in new signings.

The consortium of investors, led by Andrew Cavenagh and 49ers Enterprises, purchased a majority 51 percent stake in the Glasgow team.

Funding for the close-season signings will come in the form of a new share issue, subject to shareholder approval at a general meeting on June 23.

Healthcare executive Cavenagh is Rangers’ new chairman, while Paraag Marathe, who is chairman of Premier League side Leeds United and the president of 49ers Enterprises, becomes the vice-chairman.

Rangers said the Scottish Football Association approved the deal late on Thursday night after the club sought consent over dual ownership issues.

Sports investment firm 49ers Enterprises also owns a majority stake in Leeds, who won promotion from the Championship this season.

The deal will allow Rangers to step up their recruitment of a new manager.

Real Madrid’s departing assistant manager Davide Ancelotti and former Southampton boss Russell Martin are among the leading contenders for the job following the departure of interim boss Barry Ferguson.

“We are deeply grateful for the trust placed in us by the Rangers board, shareholders, staff, and supporters,” Cavenagh said.

“This club’s history and traditions speak for themselves, but history doesn’t win matches.

“We know that the true way to honor 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.”

Rangers finished second in the Scottish Premier League this season, trailing 17 points behind Old Firm rivals Celtic, and failed to win a trophy.

Rangers haven’t won the Scottish title since 2021, with Celtic lifting the trophy 13 times in the last 14 seasons.

Ending Celtic’s dominance will be the top priority for Rangers’ new owners.

Marathe added: “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.”


Salama smashes course record with sensational 60 at Madinaty

Updated 04 February 2026
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Salama smashes course record with sensational 60 at Madinaty

  • Spaniard cards 10-under-par round with 9 birdies and a chip-in eagle to lead by four in Egypt

CAIRO: Spain’s Juan Salama fired a sensational 10-under-par course record of 60 to take a four-shot lead after the opening round of the Egypt Golf Series.

Salama’s stunning round at Madinaty Golf Club bettered the previous record of 63 and included nine birdies and a chip-in eagle on the par-five ninth — his final hole of the day after the field started on the 10th.

The Spaniard, who finished runner-up to Jack Davidson in last week’s play-off at Address Marassi, dropped his only shot of the day on the eighth hole, meaning a par there would have given him the magical 59.

“It was definitely an early start today — I was up at 3:45 a.m. stretching, breakfast at 4:30, and we arrived at the course around 5:30, so I was warming up in the dark, which was pretty crazy,” said Salama.

“But it actually went really well. I love being first out because the greens are perfect with no footprints and the ball rolls beautifully. The conditions here at Madinaty Golf Club have been fantastic all week.

“I made nine birdies with just one dropped shot, and on the last hole I really fancied the chip-in for eagle. My personal best round is nine under, so I went for it and it paid off. I feel like my game has been in a really good place the last couple of weeks. I’ve been working hard, my family has been a huge support, and my wife keeps me very disciplined, so it’s nice to see that work paying off.”

Last week’s winner Jack Davidson is the closest pursuer after a six-under 64 that included seven birdies and just one dropped shot at the par-five 13th — his fourth hole of the day.

“It was a similar situation to last week, chasing Juan Salama again, but I’m really happy with six under,” said Davidson. “The wind made it tough at times, but I managed to hole a few nice putts and keep the momentum going after last week’s play-off win.

“The up-and-down on eight was a big moment. It’s one of the hardest holes on the course, so saving par there and going on to make birdie at the last was huge. With an early tee time tomorrow, hopefully we get slightly better conditions and fresher greens.”

Four players currently share third place at five under par: Argentina’s Gaston Bertinotti, Wales’ Owen Edwards, Germany’s Tim Tillmanns and Italy’s Ludovico Addabbo, who sits second in the MENA Golf Tour Rankings.

“It was a great round, to be honest. I played really solid,” said Bertinotti. “The course was playing pretty tough — really firm and fast, especially on the downhill shots — and the wind picked up after the fourth hole, which made things even more challenging.

“The wind makes the course a lot more challenging. There are holes where you can be hitting three clubs less than normal from the rough because the ball just doesn’t stop downwind. Both nines are tough in different ways. On the front you hit more drivers, and on the back there are a lot of demanding iron shots, especially with the par threes and the water in play.”

Rankings leader Chris Wood is absent this week as he competes in the Qatar Masters on the DP World Tour, and with Addabbo well placed heading into round two, there is an opportunity to close the gap at the top of the standings.

The Egyptian contingent found the windy conditions challenging but took plenty of positives from the experience of competing against the international field.

“Conditions are pretty tough with the wind,” said Ahmed Morgan, who carded an 81. “When I played this course on the Asian Tour without wind it was much easier, but with these conditions there are some really demanding holes. The greens are very fast, so it’s difficult to hold them, which makes knocking it close to the pin the key this week.”

Amateur Abdelrahman El-Defrawy echoed those sentiments after his opening 78.

“It was pretty tough out there with the wind, but the course itself is in great condition,” he said.

“The wind was probably the biggest challenge, especially with judging yardages between clubs. But that’s all part of the experience — playing under this kind of pressure is something I’ll take a lot from going forward.”