Tycoon Cavenagh jetting in to oversee interviews for Rangers job as race for the Ibrox hotseat enters final stages
It comes as the Ibrox club are expected to hold further talks with Davide Ancelotti and others over the coming days.
A key figure in the prospective takeover deal with 49ers Enterprises, American health tycoon Cavenagh has been a regular at Ibrox in recent months.
Along with Gretar Steinsson, he has regularly attended Rangers matches, the most recent of which was the final home game of the season against Dundee United a fortnight ago.
Cavenagh had since left Scotland to tend to other business matters, with Rangers' new sporting director Kevin Thelwell leading the recruitment process along with Niners technical director Steinsson.
But Mail Sport understands he wants to meet the contenders face-to-face before giving the new appointment his final seal of approval.
Ancelotti is now the frontrunner and, although posting on social media yesterday as he enjoyed some downtime with family in the sun, is set for further talks.
When Ancelotti's father, Carlo, was unveiled as manager of Brazil earlier this week, he explained that Davide would not be joining the coaching staff.
'Davide is currently in negotiations with a European team, and it didn't seem right to bring him in,' said Ancelotti Snr.
'If he goes to a club, I wish him the best, and if not, he can come back to us.'
Russell Martin is the other name under serious consideration by Cavenagh and his colleagues, although it remains more likely that he will take charge of Leicester City.
Contact was made with Steven Gerrard's camp last week and some bookmakers even suspended the betting on him becoming the next Rangers boss. The trail to Gerrard has cooled somewhat for the time being, although sources have indicated that he is not out of the running just yet.
The Ibrox club have also held initial talks with former Feyenoord boss Brian Priske. The 48-year-old Dane has previously had spells in charge of FC Midtjylland, Royal Antwerp and Sparta Prague and was replaced at Feyenoord by club legend Robin van Persie in February.
Meanwhile, Rangers have announced their pre-season plans. The players will report back for training on June 23 before heading to St George's Park, home of the England national team, for a training camp in early July.
They will then stage two friendlies at Ibrox against Club Brugge and Middlesbrough as they prepare for Champions League qualifiers beginning on either July 22 or 23.
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