49ers Enterprises, part of a US-based consortium holding a 51% stake in Rangers, also owns Premier League club Leeds United.
They recently circulated a 50-slide pitch deck to potential investors in Leeds, which was leaked to The Athletic. The presentation reportedly reveals the owners’ plans to raise £120m to fund operations, expand Elland Road, and bring in up to £300m worth of players over the next three years.
Leeds, last season’s Championship winners, are currently valued at £527.45m, with projections suggesting the club could reach £1 billion by 2030. The Athletic also notes that Rangers’ connections could help stabilize Leeds in the Premier League.
The deck offers insight into 49ers’ recruitment strategy: the owners set the budget, football leadership defines strict technical and physical criteria, and the data team narrows down potential signings for scouts to evaluate. They emphasize that no single player ever gets favored—every target has a projected exit value.
Rangers’ approach mirrors this methodology, using detailed metrics for signings, including skills like heading from set pieces, explaining the club’s recent acquisitions like Nasser Djiga, Youssef Chermiti, Thelo Aasgaard, and Emmanuel Fernandez.
Regarding links between Rangers and Leeds, CEO Patrick Stewart said in June:
“Paraag Marathe is chairman of Leeds and vice-chair of Rangers, with a few other individuals holding roles in both clubs. While there’s overlap, one club does not control the other. There could be opportunities, but Rangers’ directors will always act in the club’s best interest. The Scottish FA ensures UEFA participation isn’t affected. Having worked with Paraag and 49ers, I see real opportunities.”
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