5 burning Rangers takeover questions answered as fans gripped by 49ers fever and consortium priority revealed

Daily Record

01-05-2025

The big day is edging ever closer with a deal imminent and Record Sport's Andy Newport looks at some of the key issues
49ers fever is gripping Glasgow's blue half as the Rangers faithful wait for news on the club's impeding takeover.
Chairman Fraser Thornton and CEO Patrick Stewart rolled out the red carpet this week as the American consortium were given a guided tour of Ibrox.
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But what happens next as the two sides inch closer to the deal the Light Blue legions have been waiting for?
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All systems go, right?
Not quite. This a deal of some complexity given the scattering of shares held amongst Rangers' multitude of shareholders.
The buying consortium have struck agreements to but the stakes owned by John Bennett and Dave King outright while they will snap up portions of the tranches held by other significant investors.
But each of these transactions must go through their own legal process and that is proving to be a time-consuming exercise.
It could be several weeks yet before Andrew Cavenagh and his partners from the San Francisco 49ers get their hands on the keys to Ibrox and assume full control.
In the meantime, though, planning for the future is ploughing on in consultation between the current owners and the soon-to-be new men in charge.
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The consortium were very much involved in the decision to appoint Kevin Thelwell as sporting director and they will weigh in again as the former Everton recruitment boss chases down the club's new boss.
The clock is ticking, however. As things stand, Rangers will kick off the new season with their first Champions League qualifier on July 23/24.
That could be nudged back a fortnight if Athletic Bilbao were to win the Europa League and hand Gers a bye through to the third round of preliminaries.
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But as things stand, the Gers squad would be required to assemble for pre-season training in the middle of June, leaving only six weeks to find a new boss and assemble his new-look squad.
Who's the frontman?
US health insurance tycoon Cavenagh has been the most regular visitor of the consortium's money men to Glasgow these past few months.
From witnessing fan protests on his first visit for a league game against St Johnstone back in January to the Europa League thriller against Fenerbahce, he has seen the full gambit of Ibrox emotions for himself.
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It's understood he'll be in the directors box again on Sunday as Gers look to make it three straight derby wins over Celtic and the expectation is he'll be a regular again next season once he's snatched control with his American partners.
But it remains to be seen if Paraag Marathe will be quite as prominent a face.
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He's a long-serving 49ers exec having spent 24 years with the NFL outfit but has branched out responsibilities lately having taken over as chairman of Leeds United.
He'll have plenty on his hands down in Yorkshire next year having overseen the Peacocks' return to the Premier League and announced plans for a major expansion of Elland Road.
But the 49ers expect to have at least one seat on the board next year next to Cavenagh's, while Gretar Steinsson - the 49ers' chief football advisor - will work hand in hand with Thelwell to ensure Rangers avoid a repeat of past recruitment mistakes.
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However, there will be a need to keep some boots on the ground in terms of the board slots. Gers have had difficulties in recent years coordinating their blazers given their far-flung spread across the globe, with directors based everywhere from London to America and the Far East.
It's been suggested that could open the door for chairman Thornton and CEO Stewart to stay on after the takeover goes through.
What's the priority?
Finding a new manager is top of the list.
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Barry Ferguson has been given the opportunity to impress and repeat of his Parkhead triumph when Celtic visit Ibrox this weekend would not do him any harm.
But there's a growing mood that Rangers need a more experienced hand to guide them through the turbulent early stages of the club's new era.
Steven Gerrard and Marco Rose are favourites with the bookies but it will be Thelwell's job to whittle down a short-list and present it to the new regime.
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But he doesn't have much time. The current Ibrox squad has proved it is not up to standard having fallen 17 points off Celtic's title-winning pace and yet again, a major overhaul is required.
Looking to the long term, upgrades to Ibrox would win over supporters who have grown concerned by the tired nature of the stadium. There have been discussions on that front but they remain a long way down the new owner's immediate to-do list.
Ultimate aim?
Cavenagh and his colleagues know what they are getting themselves into in Glasgow, where finishing second is as good as last.
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Celtic have been allowed to rule the roost for over a decade, racking up 13 of the last 14 league crowns.
Bu having experience in the ultra-competitive NFL scene, the 49ers side of the deal are confident they can utilise their sporting expertise to get Rangers back to winning ways having themselves reached three Superbowls in the last 13 years.
Their dabbling in soccer began in 2018 when they bought a minority stake in Leeds, at that time run by erratic Italian Massimo Cellino.
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They've gradually increased their holding since then, eventually claiming a majority stake in 2023.
That has coincided with a return to winning ways and Leeds will be back amongst the Premier League's big boys next term.
Now their aim is to restore Rangers to the top of Scottish football and eventually establish the club as a Champions League regular.
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There's an acknowledgment that it will take time for that to happen but the consortium are aiming high.
Gers riches?
There's eager talk amongst the Ibrox faithful that their team is about to become the richest club in Scotland.
But perhaps a word of caution is required on that front.
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Cavenagh and the 49ers will certainly have to invest some big sums up front.
But much of those readies will be required first and foremost for the purchasing of shares and to wipe out the eight-figure debts still owed to investors likes Bennett, George Taylor and Douglas Park.
A decent transfer budget will be set aside too but the new custodians are wary of terms like 'war chests' being bandied about.
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A look at Leeds' last year gives an indication of the approach that will be taken.
Daniel Farke's team won promotion with a transfer spend of £32million having allowed £162million worth of talent to move on.
That's the kind of player trading model Rangers have been trying and failing to establish for years.
The hope is now that the new owners can finally get it fired up and running, with the focus on buying the right players at the right price and selling them for a profit.