'We are deeply grateful for the trust placed in us'
Andrew Cavenagh has expressed his determination to "bring Rangers back to where it belongs - at the top" after his American consortium completed its takeover of the club."We are deeply grateful for the trust placed in us by the Rangers board, shareholders, staff, and supporters," said Cavenagh, who is now Ibrox chairman."This club's history and traditions speak for themselves, but history doesn't win matches. We know that the true way to honour 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."Paraag Marathe, who will hold dual roles as Leeds United chairman and Rangers vice-chairman, said: "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."We are excited to join Andrew and our other consortium of investors in a new era for this iconic club, and we are determined to build something that supporters can be proud of for years to come."Fraser Thornton, who relinquishes his role as Rangers chairman but remains on the board, said the new ownership "represents a significant step forward" for the club.He added: "The incoming shareholders bring not only funding but also deep expertise in strategic planning, infrastructure development, and sporting excellence."On behalf of Rangers, I also want to put on record our appreciation to the outgoing board members who have selflessly served the club. I also want to acknowledge our major shareholders whose backing has brought the club to this point, the vast majority of whom have chosen to reinvest in the club and continue with us on the next stage of the journey."
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