A US-based consortium, including the concern limb of the 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 the Ibrox nine pursuing months of negotiations.
The nine says £20m of caller concern volition beryllium made disposable successful the summertime pursuing a stock issue.
Cavenagh volition beryllium confirmed arsenic the club's caller president astatine an yearly wide gathering the extremity of June. His vice-chair volition beryllium the existent president of Leeds United, Paraag Marathe.
The takeover has been granted support from the Scottish Football Association aft discussions astir dual interest, with 49ers Enterprises holding afloat power astatine Leeds.
"The consortium volition illustration a caller strategical imaginativeness for the club's aboriginal prioritising on-pitch show and semipermanent fiscal sustainability," Rangers said successful a statement.
Mark Taber, Andrew Clayton and Gene Schneur volition go caller committee members, with Patrick Stewart remaining arsenic main executive.
Current committee members Fraser Thornton, John Halsted and George Taylor volition enactment connected arsenic Graeme Park, Julian Wolhardt and Alastair Johnston measurement down.
"We are profoundly grateful for the spot placed successful america by the Rangers board, shareholders, staff, and supporters," Cavenagh said.
"This club's past and traditions talk for themselves, but past doesn't triumph matches. We cognize that the existent mode to honour the club's practice volition beryllium to thrust performance.
"Our absorption is simple: elevate performance, present results, and bring Rangers backmost to wherever it belongs - astatine the top."
Cavenagh and Marathe, president of 49ers Enterprises, "will oversee each aspects of the club" with caller sporting manager Kevin Thelwell officially starting his relation connected Monday.
Rangers are successful the last stages of their hunt for a caller manager, with departing Real Madrid adjunct Davide Ancelotti and erstwhile Southampton brag Russell Martin understood to beryllium the starring candidates.
"At 49ers Enterprises, we person built a way grounds of sporting and concern success, but our driving information is our heavy transportation to the clubs and communities we serve," said Marathe.
"We are excited to articulation Andrew and our different consortium of investors successful a caller epoch for this iconic club, and we are determined to physique thing that supporters tin beryllium arrogant of for years to come."
Chief enforcement Stewart said: "From my earliest conversations with Paraag and Andrew, I person been excited and assured successful the shared imaginativeness and what it could mean for the aboriginal of Rangers."
Thornton added: "I besides privation to admit our large shareholders whose backing has brought the nine to this point, the immense bulk of whom person chosen to reinvest successful the nine and proceed with america connected the adjacent signifier of the journey."
Given the months of speculation, the takeover announcement comes arsenic nary surprise, but what it does springiness america is the archetypal glimpse of what the caller consortium are each about.
The fans person been forced to endure different play of Celtic dominance but, for them, the impending takeover has provided immoderate airy astatine the extremity of what has seemed similar a passageway with 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 implicit immoderate radical oregon individuals who assertion that this clip it volition beryllium different.
In that respect, the caller radical person said precise small truthful far, but the quality of a £20m concern volition beryllium broadly welcomed. Where that wealth comes from and however it volition beryllium spent are present cardinal questions for those who privation to judge that a caller epoch of occurrence has begun.
Those who hoped that the full mightiness of the San Francisco 49ers would beryllium thrown astatine Ibrox connected time 1 might, perhaps, beryllium disappointed. However, that was ne'er going to beryllium the case.
£20m is £20m the nine didn't person past week, but volition it beryllium capable to supply the contiguous occurrence the supporters crave?
Throwing wealth astatine footballing problems is lone portion of the answer. This caller radical consciousness their expertise volition beryllium arsenic important arsenic their fiscal muscle, and that volition beryllium absorbing to show going forward. The takeover announcement is simply a milestone connected a overmuch longer journey.
Now it's astir laying the remainder of the way and proving with actions that they'll present what the fans person demanded for truthful agelong – the dominance of Scottish football.
English (US) ·