'We want Rangers back at the top' - US consortium completes takeover

A US-based consortium, including nan finance limb of nan San Francisco 49ers, has completed a multi-million lb takeover of Rangers.

The group, led by backstage healthcare tycoon Andrew Cavenagh, has bought 51% of nan Ibrox nine pursuing months of negotiations.

The nine says £20m of caller finance will beryllium made disposable successful nan summertime pursuing a stock issue.

Cavenagh will beryllium confirmed arsenic nan club's caller president astatine an yearly gathering astatine nan extremity of June. His vice-chair will beryllium nan existent president of Leeds United, Paraag Marathe.

The takeover has been granted support from nan Scottish Football Association aft discussions astir dual interest, pinch 49ers Enterprises holding afloat power astatine Leeds United.

"The consortium will floor plan a caller strategical imagination for nan club's early prioritising on-pitch capacity and semipermanent financial sustainability," Rangers said successful a statement.

Mark Taber, Andrew Clayton and Gene Schneur will go caller committee members, pinch Patrick Stewart remaining arsenic main executive.

Current committee members Fraser Thornton, John Halsted and George Taylor will enactment connected arsenic Graeme Park, Julian Wolhardt and Alastair Johnston measurement down.

Cavenagh said: "We are profoundly grateful for nan spot placed successful america by nan Rangers board, shareholders, staff, and supporters.

"This club's history and traditions speak for themselves, but history doesn't triumph matches. We cognize that nan existent measurement to honour nan club's practice will beryllium to thrust performance.

"Our attraction is simple: elevate performance, present results and bring Rangers backmost to wherever it belongs - astatine nan top."

Cavenagh and Marathe, president of 49ers Enterprises, "will oversee each aspects of nan club" pinch caller sporting head Kevin Thelwell officially starting his domiciled connected Monday.

Rangers are successful nan last stages of their hunt for a caller caput coach, pinch departing Real Madrid adjunct Davide Ancelotti and erstwhile Southampton leader Russell Martin understood to beryllium nan starring candidates.

Marathe said: "At 49ers Enterprises, we person built a way grounds of sporting and business success, but our driving information is our heavy relationship to nan clubs and communities we serve.

"We are excited to subordinate Andrew and our different consortium of investors successful a caller era for this iconic nine and we are wished to build thing that supporters tin beryllium proud of for years to come."

Chief executive Stewart said: "From my earliest conversations pinch Paraag and Andrew, I person been excited and assured successful nan shared imagination and what it could mean for nan early of Rangers."

Thornton added: "I besides want to admit our awesome shareholders whose backing has brought nan nine to this point, nan immense mostly of whom person chosen to reinvest successful nan nine and proceed pinch america connected nan adjacent shape of nan journey."

Given nan months of speculation, nan takeover announcement comes arsenic nary surprise, but what it does springiness america is nan first glimpse of what nan caller consortium are each about.

The fans person been forced to strengthen different play of Celtic dominance, but, for them, nan impending takeover has provided immoderate ray astatine nan extremity of what has seemed for illustration a passageway pinch nary end.

This is simply a fanbase bruised and battered by placing religion successful saviours who, successful caller years, promised a batch and delivered little. They should beryllium forgiven for casting a suspicious oculus complete immoderate group aliases individuals who declare that this clip it will beryllium different.

In that respect, nan caller group person said very small truthful far, but nan news of a £20m finance will beryllium broadly welcomed.

Where that money comes from and really it will beryllium spent are now cardinal questions for those who want to judge that a caller era of occurrence has begun, but it's my knowing nan immense mostly of it will beryllium thrown astatine shot operations.

Those who hoped that nan full mightiness of nan San Francisco 49ers would beryllium thrown astatine Ibrox connected time 1 might, perhaps, beryllium disappointed. However, that was ne'er going to beryllium nan case.

It is £20m nan nine didn't person past week, but will it beryllium capable to supply nan contiguous occurrence nan supporters crave?

Throwing money astatine footballing problems is only portion of nan answer. This caller group consciousness their expertise will beryllium arsenic important arsenic their financial musculus and that will beryllium absorbing to show going forward. The takeover announcement is simply a milestone connected a overmuch longer journey.

Now it's astir laying nan remainder of nan way and proving pinch actions that they'll present what nan fans person demanded for truthful agelong - nan power of Scottish football.