Rangers' US takeover complete with 49ers involved
Rangers is preparing for a new "strategic vision" after a US-based consortium completed its takeover of the Scottish Premiership giant.
The San Francisco 49ers' investment arm is also involved in the deal that takes 51 per cent ownership of Rangers, which will be headed by Andrew Cavenagh.
Leeds United's Paraag Marathe will be appointed as vice-chair to sit alongside Cavenagh, who is expected to be confirmed as the club's new chairman at an annual general meeting at the end of June.
"The consortium will chart a new strategic vision for the club's future, prioritising on-pitch performance and long-term financial sustainability," a statement frm Rangers read.
The Scottish Football Association granted approval after discussions around dual interest, with the 49ers holding full control at newly-promoted Premier League side Leeds.
"We are deeply grateful for the trust placed in us by the Rangers board, shareholders, staff, and supporters," Cavenagh said.
"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."
Kevin Thelwell will start in his role as sporting director next week, having traded Everton for his move to Ibrox.
His first task will be to support the appointment of Rangers' new manager after the departure of stand-in Barry Ferguson.
Departing Real Madrid assistant Davide Ancelotti, son of Italian great Carlo, and former Southampton head coach Russell Martin are reportedly the leading candidates.
"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," Marathe added.
"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."
