Rangers have confirmed the takeover of the club involving a 49ers Enterprises led consortium is complete.
News that the investment arm of the San Francisco 49ers American Football team were involved in a potential takeover at Ibrox first surfaced early this year, with Rangers then first acknowledging it in April.
A statement confirmed the consortium was looking for a controlling stake while sources close to the deal told how it would likely be complete by June.
A major player in the deal has been Paraag Marathe, president of 49ers Enterprises and chairman of Leeds United, the newly promoted English Premier League side also part of the 49ers group.
American health tycoon Andrew Cavenagh is part of the consortium and has been at Ibrox more than once in the intervening period.
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The deal has now been completed with an announcement made today as Rangers enter into a new era.
Andrew Cavenagh told the Gers website: "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."
Rangers CEO Patrick Stewart said: “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.”
