Rangers have stepped into a potentially transformative chapter of its history following the finalisation of a takeover.
The new investor consortium led by Andrew Cavenagh and 49ers Enterprises want to implement a fresh strategic vision, emphasising on-pitch performance and financial sustainability.
The leadership has pledged a £20 million investment, signalling a strong commitment to rejuvenating the club’s fortunes.
Cavenagh, slated to become chairman, and Paraag Marathe, Vice Chairman and President of 49ers Enterprises, bring decades of business and sports experience to the table.
Here are the key quotes from these critical figures:
Andrew Cavenagh (chairman)
"We are deeply grateful for the trust placed in us by the Rangers Board, shareholders, staff, and supporters. 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."
Paraag Marathe (vice-chairman)
“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. 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.”
Patrick Stewart (Chief Executive)
“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.”
Fraser Thornton (former chairman and current board member)
“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.”
Cavenagh and Marathe open letter
Dear Rangers Supporters,
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.
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. 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.
