Rangers to change name of owning company after American takeover as US consortium plan MAJOR behind the scenes shift
The new owners are getting to work straight away after taking control of the club earlier this week
NAME GAME Rangers to change name of owning company after American takeover as US consortium plan MAJOR behind the scenes shift
THE parent company of Rangers is planning to undergo a significant name change following the club's recent takeover.
The Light Blues are looking to go from a public company to a private one.
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It was announced on Friday that Rangers' takeover deal had went through
Credit: Willie Vass
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And the new board now have some big plans in regard to the club's name
Credit: The Sun
The proposed change is subject to approval from shareholders at an upcoming meeting later this month.
Since November 2012, the Ibrox-based club has operated under the name 'The Rangers International Football Club PLC'.
However, under the new leadership of chairman Andrew Cavenagh and 49ers Enterprises, spearheaded by vice chairman Paraag Marathe, the company intends to adopt the name 'Rangers International Football Club Limited'.
This proposed shift symbolises a new era for the club and its corporate structure, music to the ears of Gers fans.
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The issue will be decided at the club's Extraordnary General Meeting (EGM), which is set to take place on 23 June at the Doubletree Hilton Hotel in Glasgow.
This pivotal meeting will allow shareholders to deliberate and vote on the proposed changes.
If approved, the move to a private company is expected to bring a fresh direction to the club, strengthening its foundations under the new ownership.
This comes after the takeover was announced earlier this week, with £20million of fresh capital invested into Rangers.
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Football finance expert Kieran Maguire spoke to SunSport when the confirmation of the takeover broke.
He said: "FFP is less of an issue than the club losing money and they need to address that first.
Rangers fans react as 49ers takeover completed
"They have some big hitters and experienced people joining [the board] though."
The new owners come into the Ibrox club with plenty of football and business experience.
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New members of the Rangers board, including chairman Cavenagh, are successful businessmen from across the pond, with new vice-chair Marathe presiding over 49ers enterprises.
He is also the chairman at Leeds United, but despite being under the same ownership structure, the Gers and the Whites are operating as two separate entities.
The first action of the new board will be to appoint a new head coach, with the permanent position still vacant after Philippe Clement's departure in February.
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