How Rangers will spend £20m investment from US consortium
Cavenagh will serve as chairman while 49ers Enterprises president Paraag Marathe will be vice-chairman.
Cavenagh told the Rangers website: "We are deeply grateful for the trust placed in us by the Rangers Board, shareholders, staff, and supporters. 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."
Marathe added: '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.'
Read more: Rangers takeover complete as 49ers Enterprises seal deal and statement released
Rangers can now live the American dream, but what are the big financial challenges?
One thing Rangers fans will be wondering is just how the initial investment will be spent.
The £20m will not just be provided as a warchest to be splashed in the transfer market, though the injection of cash will certainly help in that regard.
Rangers Review have reported that the initial priority for the new owners is to improve on-pitch fortunes and so a decent chunk of the cash will be put forward to do so.
Significant investment in the squad is expected and it will likely be another busy summer for Ibrox's revolving door.
The investors' long-term goal is to work towards long-term financial sustainability. In recent years, wealthy investors and supporters have plugged gaps through share issues and loans that have been converted to equity.
The fresh inject of funds will allow the club to have stability in their planning.
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Scottish Sun
31 minutes ago
- Scottish Sun
Kris Boyd shares insight to Rangers takeover as Davide Ancelotti becomes next manager favourite – plus a path to glory
Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) THE Americans have paid top dollar for Rangers. One financial expert claimed in this week's Scottish Sun that Andrew Cavenagh and the 49ers Enterprises will have forked out £110million. Now they will demand some bang for their buck. 2 New Rangers boardroom leader Andrew Cavenagh with ex-chairman John Gilligan Credit: PA 2 Ex-Real Madrid assistant Davide Ancelotti is a leading contender for the Rangers job Credit: Getty Cavenagh spoke of his desire to win domestic honours, and compete deep into the latter stages of European competitions. He said everything Gers fans wanted to hear. But to do so, Cavenagh and Paraag Marathe must surround themselves with the right people in EVERY area. Sporting director Kevin Thelwell officially starts work this week coming, so I would expect a new head coach to be next through the front door at Ibrox — and within days. Davide Ancelotti is favourite, ahead of Russell Martin, after it became clear there would be no romantic return to the club for Steven Gerrard. I've already said the appointment of Ancelotti would be a gamble. But all managerial appointments come with an element of risk. Yes, he's worked for dad Carlo at Real Madrid, Bayern Munich, PSG and Napoli. But the buck stopped with the old man when things went wrong, and Ancelotti jnr was insulated from any criticism. That certainly won't be the case at Rangers. Ronald de Boer had played at Ajax and Barcelona before rolling up at Ibrox — and even he was astonished by the fierce scrutiny of everything that happens at Gers. Rangers fans react as 49ers takeover completed Whoever comes in as head coach won't have the same autonomy over signings that was afforded to previous gaffers like Gerrard. Thelwell and the recruitment team have probably already identified areas that need strengthened, and the players they would like to strengthen them. If they haven't, they have not been doing their job. Ancelotti or Martin will have a say, but their main priority will be to coach those players — and deliver the results which Cavenagh craves. For me, Gers need seven or eight first-choice starters this summer, and Cavenagh has promised a £20m warchest. That still might not be enough to tick every box — but Rangers will have to get players in. They have already axed 19 this summer, from favourites like Ianis Hagi, to loan stars like Vaclav Cerny and kids like Adam Devine. There still remain huge question marks over some who remain — like Nedim Bajrami and Oscar Cortes. There are no bad players at Ibrox. But many have under-achieved time and again, and could have no complaints if they found themselves playing second fiddle to newcomers next term. The new season is not far away, with the Premiership fixtures due out on June 20, and a Champions League qualifier on July 22 or 23. The new era is certain to start away from Ibrox, with champions Celtic enjoying flag day at Parkhead at the start of August. It could be a tough one. Remember Dick Advocaat and Ange Postecoglou losing at Tynecastle on their first days in the job? Mind you, both did win the league. The new Gers boss will be hoping for the same outcome, and a tough away opener will give him the chance to lay down a marker and hint at better times ahead. Gers have not struggled against Celtic in recent times. They have had back-to-back wins and a draw in the league, after the penalty shootout heartache in the Premier Sports Cup final at Hampden last year. But too often they have fallen short at St Mirren, Dundee, Kilmarnock or Aberdeen. Never mind Cavenagh's cash — they should have had more than enough of a financial advantage in previous seasons to see off the rest. Now Gers must build a squad capable of swatting aside the others, and taking their chances in the Old Firm head-to-heads. And they do need a squad. I go back to the 2008 Uefa Cup final run, when Walter Smith had one team for Europe, and virtually another for league games. Lee McCulloch and Charlie Adam used to go daft when they were dumped on the bench after returning from Thursday night Euro ties. Celts showed they have two teams when they made all those changes at Pittodrie before the rematch with Aberdeen in the Cup final. Gers must emulate that strength in depth. I expect a flurry of transfer activity now. I genuinely don't think the gap between the big two is even that wide. Yes, Celts won the title by 17 points, but if Rangers can start to handle the games which have tripped them up in recent times, the gap can close. I'm not making excuses for Gers. They simply haven't been good enough. But now it's got real because Cavenagh and Co are here for the long haul. They are people of real financial acumen, and they will want to see Gers perform in the Champions League. That's still a million miles away. For now, they need to focus on the bread and butter of domestic action. The new sporting director, new head coach, and new players, must put in total effort every single day. Because guess what? That's what Celtic have done in 13 of the 14 last seasons. They have battled to late goals, dramatic wins and everything that needs to do be done to win a title — with hard work and everyone pulling in the same direction. I'm excited for the new season because the top five will all be beaming. Gers have new investment, so too do Hearts after Tony Bloom's £10m cash injection. Aberdeen will feel great after the Cup final win, and likewise Hibs, after their third place finish. And, of course, Celts will rightly start as favourites after landing another title and the Premier Sports Cup. Some of their fans refused to believe this American dream would ever come true for Rangers. They claimed Cavenagh was going from the Land of the Free to the land of the free transfers. But this fistful of dollars has made it all feel very real. So, have a nice day, y'all... Keep up to date with ALL the latest news and transfers at the Scottish Sun football page
Daily Mail
36 minutes ago
- Daily Mail
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2 hours ago
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