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American investors are buying their way into Scotland's top soccer league.

Why it matters: It extends the trend that has seen European soccer ownership become more red, white and blue-eyed.

Driving the news: 49ers Enterprises, the investment arm of the NFL's San Francisco 49ers, is leading a takeover bid of Scottish club Rangers F.C., one of the top teams in the Scottish Premiership.

The investment group would include Andrew Cavenagh, executive chairman of health insurance firm ParetoHealth.

One potential hiccup is the 49ers' ownership of Leeds United, which currently sits in the second-tier Championship league down in England.

Scottish Professional Football League rules state that an owner of a Scottish club cannot have shares in another team without prior consent.

What they're saying: Paraag Marathe, who leads 49ers Enterprises, declined to comment specifically on the Rangers takeover during the Financial Times Business of Football Summit on Wednesday.

"Leeds United stands alone and if we were to pursue another club, that club would stand alone," Marathe said. "Are there benefits to having leadership and ownership of multiple clubs? Absolutely, with what you could share and do on the commercial side, even sometimes on the sporting side."

The big picture: If the purchase goes through in the next few months, the 49ers would become the sixth American owner in the Scottish Premiership.

Last month, Las Vegas-based businessmen James Bord and Evan Sofer completed their takeover of Dunfermline Athletic. Adam Webb, an Atlanta-based attorney, took over St. Johnstone in July of last year.

Mark Ogren bought Dundee United in 2018. Tim Keyes, CEO of Austin-based Keys Capital, bought their in-city rival Dundee FC in 2013.

Ronald Gordon bought Hibernian in 2019; his family owns the team after he died in 2023.

Atlanta United's parent company AMB Sports & Entertainment has a minority stake in Aberdeen.

State of play: Sales of these lesser-known Scottish clubs come as some of the top-flight European soccer teams have struggled to find new investors.

Both Liverpool and Manchester United had attempted to find new majority owners but had to settle for minority sales instead.

Overall, 23 European clubs changed hands in 2024, according to UEFA figures (as reported by The Financial Times). That is down from 44 in 2023 and 48 in 2022.

American investors are buying into Scottish soccer

49ers Enterprises is eyeing a takeover of Glasgow-based Rangers F.C.

 A Rangers fan wears a 'Make Rangers Great Again' hat following a prospective a takeover bid by 49ers Enterprises

A Rangers F.C. fan supports a prospective takeover bid by 49ers Enterprises during a match on Feb. 22. Photo: Rob Casey/SNS Group via Getty Images

American investors are buying their way into Scotland&#x27;s top soccer league.Why it matters: It extends the trend that has seen European soccer ownership become more red, white and blue-eyed.

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American investors are buying into Scottish soccer

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