Summary
A US-based group led by Andrew Cavenagh, including investors from the San Francisco 49ers, has bought a 51% share of the Rangers football club. The group plans to invest £20 million in the club and will focus on improving team performance and ensuring financial stability. Cavenagh will become the new chairman, and Paraag Marathe will serve as vice-chairman.
Key Facts
- A US group has taken over 51% of Rangers football club.
- Andrew Cavenagh leads this group, which includes the 49ers investment arm.
- The group plans to invest £20 million in Rangers after a share issue.
- Andrew Cavenagh will be the new chairman, with Paraag Marathe as vice-chairman.
- The Scottish Football Association approved the takeover despite concerns about owning interests in multiple clubs.
- New board members are Mark Taber, Andrew Clayton, and Gene Schneur, while some previous members will stay.
- Kevin Thelwell will start as sporting director, and Rangers are close to appointing a new head coach.
- The group's focus includes improving the team's performance and maintaining financial stability.
