3 days ago
Rangers' £20m cash injection and how club will now spend it
The group, led by 49ers Enterprises and health tycoon Andrew Cavenagh, purchased a controlling stake in the Ibrox club with a £20 million investment.
Cavenagh will serve as chairman, with 49ers Enterprises president Paraag Marathe as vice-chairman.
Mr 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.
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"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."
Mr 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."
The initial £20 million investment will not solely be used for player transfers.
The focus is on enhancing on-pitch performance, with significant investment expected in the squad.
This indicates a busy summer for Ibrox's transfer activities.
The investors also aim to work towards long-term financial sustainability.
In recent years, wealthy investors and supporters have filled financial gaps through share issues and loans converted to equity.
The fresh injection of funds provides the club with stability in their planning.
The completion of the takeover signals the start of a new chapter for Rangers, as they aim to overcome financial challenges and return to their former glory.
The fans will be eagerly watching to see how the new owners' plans unfold.
