49ers expand reach in European soccer, buy majority stake of Glasgow club Rangers

GLASGOW, Scotland — Scottish soccer club Rangers confirmed on Friday a U.S.-based consortium that includes an investment arm of the San Francisco 49ers has purchased a majority ownership stake. Rangers said health insurance entrepreneur Andrew Cavenagh and 49ers Enterprises led the consortium of investors that was reported to have bought a 51% stake. The purchase price was not disclosed. The club said the group has committed to invest 20 million pounds ($27 million) right away, subject to shareholder approval in June. In July 2023, 49ers Enterprises completed the takeover of...