AFTER MONTHS OF TALKS, THE COMPLEX DEAL TO ACQUIRE THE CLUB HAS FINALLY BEEN COMPLETED - AT AN EYE-WATERING COST 15:29, 30 May 2025Updated 19:40, 30 May 2025 Rangers enter a new American era

as takeover is finally completed | Hotline Live Andrew Cavenagh swept into Ibrox after completing his £75million Rangers takeover and declared he’s ready to put the club “back where it

belongs – at the top”. The American health insurance tycoon and his partners from 49ers Enterprises finally signed the momentous deal that secures the keys to the club late on Thursday night

before breaking the news to a delighted fanbase. Their first act will be to hold a share issue and Emergency AGM on June 23 as they look to pump an additional £20million into Gers coffers -

up a 51 percent stake, the US businessman now becomes the club’s new chairman. Alongside new vice-chairman Paraag Marathe - a senior 49ers exec who also currently sits at the head of the

Leeds United board - they will now look to draw up a revolutionary plan to restore the Ibrox side to past glories. Spelling out their vision, the American duo said in an open letter to fans:

“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.” Cavenagh and Marathe will be joined by American allies Mark Taber, Andrew Clayton

and Gene Schneur on Gers’ reshaped board. Current chairman Fraser Thornton steps down but will remain as a director, as will John Halsted and George Taylor. Supported by Patrick Stewart, who

stays on as CEO, and new sporting director Kevin Thelwell, the in-coming regime don’t have a second to waste. The Light Blues due to return to preseason on the same day as the EGM and will

them kick-off their Champions League qualifying bid in a mere 52 days’ time - but crucially still do not have a replacement for Philippe Clement in place. Davide Ancelotti remains the

favourite to land the gig and club insiders expect that recruitment process to be stepped up next week. “We aim to leverage the full strength of 49ers Enterprises’ sporting expertise and

operational experience, and are confident in Patrick Stewart and Kevin Thelwell to lead this next phase,” added the open letter. “Our first priority together is clear: hiring a new men’s

head coach. That process is already well underway, and we look forward to sharing more updates soon. We will also look to invest in talent for our teams. “Moving forward, we are

reconstituting the board to bring in a few new voices and skill sets. We all owe a special thanks to the previous board for their service. They stepped up in a difficult moment when the club

needed them and laid the foundation for what comes next. “Above all, we know that true success comes from understanding and honouring what makes this club special. In our time getting to

know Ibrox, Glasgow, and you, we’ve felt the pride, history, and passion that set Rangers apart. You have made it clear what this club means to you, and we take the responsibility of leading

this club seriously. “We look forward to seeing you at Ibrox soon. For now, we’ll keep working, and we can’t wait for what’s ahead." In a separate statement, Cavanagh added: "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." While Cavenagh and Co are getting their feet under the table, directors Graeme Park, Julian Wolhardt, and Alastair Johnston are stepping down from the board. Out-going

chairman Thornton will be retained to offer local support to his new Stateside colleagues. He said: “This new ownership phase represents a significant step forward for Rangers FC. "The

incoming shareholders bring not only funding but also deep expertise in strategic planning, infrastructure development, and sporting excellence. “On behalf of Rangers, I also want to put on

record our appreciation to the outgoing board members who have selflessly served the club. I also want to acknowledge our major shareholders whose backing has brought the club to this point,

the vast majority of whom have chosen to reinvest in the club and continue with us on the next stage of the journey. Article continues below “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.”