Latest news with #Cavenagh
Scottish Sun
a day ago
- Business
- 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 Mirror
2 days ago
- Business
- Daily Mirror
Rangers to officially change name after takeover by US consortium completed
After the club were taken over by a US led consortium, Rangers are set to undergo a name-change, in a move which is provoking a lot of curiosity The parent company of Rangers FC is looking to rebrand following their acquisition of the club. The takeover of the Scottish giants by the US led consortium was officially completed on May 30. The takeover group, that is led by healthcare tycoon Andrew Cavenagh, purchased a 51 per cent controlling stake at the Glasgow giants, after the Scottish FA approved the move. The new owners are overseeing a transition from a public to a private company, pending shareholder approval later this month. Since November 2012, the Ibrox team has been known as 'The Rangers International Football Club PLC', but will now trade under the name 'Rangers International Football Club Limited'. This change ushers in a new era under chairman Cavenagh and 49ers enterprises, led by vice-chairman Paraag Marathe. The proposed shift will be put to a vote at the club's forthcoming Extraordinary General Meeting (EGM), set for June 23 at Glasgow's Doubletree Hilton. To pass, the name change requires a 75 per cent approval rate. Despite their PLC status, Rangers were not publicly listed on the stock exchange. The transition to an LTD ensures shares cannot be offered to the public, providing an additional level of control for the new leadership, reports the Daily Record. The EGM will cover the move to the LTD company, informing shareholders about what they are voting on. Friday's big announcement covered the ordinary resolutions. This includes the allotment of nominal shares, a price that has been set in recent years for directors investing in Ibrox. The club is entering a new era with nine appointments to the revamped board, spearheaded by Cavenagh and Marathe. Patrick Stewart, Eugene Schneur, Andrew Clayton, Mark Taber, Fraser Thornton, John Halsted and George Taylor are the other seven who will play pivotal roles. In an open letter to the Rangers supporters, Cavenagh and Marathe said: "We are proud to be entering a new chapter for this extraordinary club. This moment is the result of months of thoughtful discussions with club leadership and our shared confidence in Rangers' success going forward. "To that end we'd like to tell you a bit about our thinking. Simply put - our goal is to win trophies in Scotland and be able to compete at a high level in Europe, while laying a foundation of financial sustainability for the future. "As our first step, we are investing fresh capital into Rangers, which will be strategically deployed on and off the pitch. While we recognise the importance of resources, we believe that thoughtful, disciplined investment, guided by a clear strategy, is the path to enduring success. "Every decision, whether sporting or business, will be made with the club's long-term success and sustainability in mind." Join our new WhatsApp community and receive your daily dose of Mirror Football content. We also treat our community members to special offers, promotions, and adverts from us and our partners. If you don't like our community, you can check out any time you like. If you're curious, you can read our Privacy Notice.
South Wales Guardian
2 days ago
- Business
- South Wales Guardian
New Rangers owners promise £20m investment after completing takeover
The Glasgow club announced that a consortium of investors, led by Andrew Cavenagh and 49ers Enterprises, has purchased a majority stake in the club. The new leadership now owns 51 per cent of Rangers following a number of share purchases and has committed to invest £20million into the club, the vast majority to be spent on players. This funding will come in the form of a new share issue, subject to shareholder approval at a general meeting on June 23. The club is also set to move from being a public limited company to private. Healthcare executive Cavenagh will become chairman, while Paraag Marathe, who is chairman of Leeds and president of 49ers Enterprises, becomes vice-chairman. Rangers say the Scottish Football Association approved the deal late on Thursday night after the club sought consent over dual ownership issues. Sports investment firm 49ers Enterprises owns a majority stake in Leeds. A similar investment into Hibernian involving the Black Knights, the consortium that owns Bournemouth, was subject to SFA requirements that the stake in the Easter Road club did not exceed 30 per cent. The deal will allow Rangers to step up their recruitment of a new manager with outgoing Real Madrid assistant manager Davide Ancelotti the front-runner, but no movement is expected until next week. Cavenagh said: '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.' Three other United States-based directors, Mark Taber, Andrew Clayton, and Gene Schneur, will join Cavenagh and Marathe as new members of the board. Chief executive Patrick Stewart, outgoing chairman Fraser Thornton, John Halsted and George Taylor will remain on the board while Graeme Park, Julian Wolhardt, and Alastair Johnston are stepping down. Stewart said: 'From my earliest conversations with Paraag and Andrew, I have been excited and confident in the shared vision and what it could mean for the future of Rangers. 'Our focus now is on the hard work ahead, preparing thoroughly for the new season, appointing the right men's head coach, and ensuring we have the structures in place to support success on the pitch.' Thornton added: 'The incoming shareholders bring not only funding but also deep expertise in strategic planning, infrastructure development, and sporting excellence.'
North Wales Chronicle
2 days ago
- Business
- North Wales Chronicle
New Rangers owners promise £20m investment after completing takeover
The Glasgow club announced that a consortium of investors, led by Andrew Cavenagh and 49ers Enterprises, has purchased a majority stake in the club. The new leadership now owns 51 per cent of Rangers following a number of share purchases and has committed to invest £20million into the club, the vast majority to be spent on players. This funding will come in the form of a new share issue, subject to shareholder approval at a general meeting on June 23. The club is also set to move from being a public limited company to private. Healthcare executive Cavenagh will become chairman, while Paraag Marathe, who is chairman of Leeds and president of 49ers Enterprises, becomes vice-chairman. Rangers say the Scottish Football Association approved the deal late on Thursday night after the club sought consent over dual ownership issues. Sports investment firm 49ers Enterprises owns a majority stake in Leeds. A similar investment into Hibernian involving the Black Knights, the consortium that owns Bournemouth, was subject to SFA requirements that the stake in the Easter Road club did not exceed 30 per cent. The deal will allow Rangers to step up their recruitment of a new manager with outgoing Real Madrid assistant manager Davide Ancelotti the front-runner, but no movement is expected until next week. Cavenagh said: '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.' Three other United States-based directors, Mark Taber, Andrew Clayton, and Gene Schneur, will join Cavenagh and Marathe as new members of the board. Chief executive Patrick Stewart, outgoing chairman Fraser Thornton, John Halsted and George Taylor will remain on the board while Graeme Park, Julian Wolhardt, and Alastair Johnston are stepping down. Stewart said: 'From my earliest conversations with Paraag and Andrew, I have been excited and confident in the shared vision and what it could mean for the future of Rangers. 'Our focus now is on the hard work ahead, preparing thoroughly for the new season, appointing the right men's head coach, and ensuring we have the structures in place to support success on the pitch.' Thornton added: 'The incoming shareholders bring not only funding but also deep expertise in strategic planning, infrastructure development, and sporting excellence.'
Glasgow Times
3 days ago
- Business
- Glasgow Times
New Rangers owners promise £20m investment after completing takeover
The Glasgow club announced that a consortium of investors, led by Andrew Cavenagh and 49ers Enterprises, has purchased a majority stake in the club. The new leadership now owns 51 per cent of Rangers following a number of share purchases and has committed to invest £20million into the club, the vast majority to be spent on players. This funding will come in the form of a new share issue, subject to shareholder approval at a general meeting on June 23. The club is also set to move from being a public limited company to private. Leeds chairman Paraag Marathe has joined the Rangers board (Mike Egerton/PA) Healthcare executive Cavenagh will become chairman, while Paraag Marathe, who is chairman of Leeds and president of 49ers Enterprises, becomes vice-chairman. Rangers say the Scottish Football Association approved the deal late on Thursday night after the club sought consent over dual ownership issues. Sports investment firm 49ers Enterprises owns a majority stake in Leeds. A similar investment into Hibernian involving the Black Knights, the consortium that owns Bournemouth, was subject to SFA requirements that the stake in the Easter Road club did not exceed 30 per cent. The deal will allow Rangers to step up their recruitment of a new manager with outgoing Real Madrid assistant manager Davide Ancelotti the front-runner, but no movement is expected until next week. Davide Ancelotti is the favourite to take over as Rangers manager (Mike Egerton/PA) Cavenagh said: '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's Leeds have been promoted to the Premier League (Mike Egerton/PA) 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.' Three other United States-based directors, Mark Taber, Andrew Clayton, and Gene Schneur, will join Cavenagh and Marathe as new members of the board. Rangers chief executive Patrick Stewart (left) and Fraser Thornton remain on the board (Andrew Milligan/PA) Chief executive Patrick Stewart, outgoing chairman Fraser Thornton, John Halsted and George Taylor will remain on the board while Graeme Park, Julian Wolhardt, and Alastair Johnston are stepping down. Stewart said: 'From my earliest conversations with Paraag and Andrew, I have been excited and confident in the shared vision and what it could mean for the future of Rangers. 'Our focus now is on the hard work ahead, preparing thoroughly for the new season, appointing the right men's head coach, and ensuring we have the structures in place to support success on the pitch.' Thornton added: 'The incoming shareholders bring not only funding but also deep expertise in strategic planning, infrastructure development, and sporting excellence.'
