‘We want Rangers back at the top’ – US consortium completes takeover

A multi-million dollar takeover of Rangers has been completed by a US-based consortium that includes the San Francisco 49ers’ investment arm.

Following months of negotiations, the group, led by private healthcare mogul Andrew Cavenagh, has purchased 51% of the Ibrox club.

Following a share issue, the club claims to have made an additional £20 million of investment available this summer.

At the end of June’s annual meeting, Cavenagh will be chosen as the club’s new chairman. His vice-chair will be Paraag Marathe, the current chairman of Leeds United.

After discussions involving dual interests, with 49ers Enterprises holding full control of Leeds United, the Scottish Football Association approved the takeover.

Patrick Stewart will continue as the company’s chief executive, joining Mark Taber, Andrew Clayton, and Gene Schneur as board members.

As Graeme Park, Julian Wolhardt, and Alastair Johnston depart, current board members Fraser Thornton, John Halsted, and George Taylor will remain.

The Rangers’ board, shareholders, staff, and supporters have placed a tremendous trust in us, Cavenagh said.

The club’s history and traditions speak for themselves, but history doesn’t win games. We are aware that performance will be the only way to truly honor the club’s heritage.

“Our goals are straightforward: elevate performance, deliver results, and restore Rangers to their former best levels,” he said.

With the appointment of new sporting director Kevin Thelwell on Monday, Cavenagh and Marathe, the president of 49ers Enterprises, will have full control over all facets of the organization.

The search for a new head coach is nearing its conclusion, with former Southampton boss Russell Martin and former Real Madrid assistant Davide Ancelotti reportedly being the top contenders.

Marathe remarked, “Our deep connection to the clubs and communities we serve is what drives our driving force.” “At 49ers Enterprises, we have a track record of success in both the sporting and business sectors.

In a new era for this iconic club, Andrew and our other consortium of investors are bringing us something that supporters will be proud of for generations to come.

I have been excited and confident in the shared vision and what it might mean for Rangers’ future, according to Chief Executive Stewart.

The takeover announcement is not surprising given the months of speculation, but it does provide the first glimpse of the new consortium’s mission.

Fans have been forced to endure yet another season of Celtic dominance, but the looming takeover has provided some hope for the fans at the end of what has initially seemed like a tunnel with no end.

This fan base is afflicted by believing in saviors who have, in recent years, made numerous promises but failed to fulfill them. They should be forgiven for observing any group or individual who claim that the situation will change this time.

The new group has so far said very little about that, but it will be widely welcomed to learn about a £20 million investment.

The majority of that money will be thrown at football operations, but where and how will it be spent are now important questions for those who want to believe that a new era of success has begun.

Those who had hoped the San Francisco 49ers’ entire force would be thrown at Ibrox on day one might turn out disappointed. That was never going to happen, though.

Will the club’s $ 20 million, which was lacking last week, be sufficient to achieve the supporters’ desire for immediate success?

The solution to footballing problems is only partially financially viable. This new group believes that their financial resources and expertise will be equally significant, which will be interesting to watch closely. A significant milestone in the takeover announcement is reached with this announcement.