Andrew Cavenagh and 49ers Enterprises spent in the region of £75m to acquire a controlling stake in Rangers.
The US consortium finalised a deal to begin a new era at Ibrox this afternoon, with changes in the boardroom already confirmed.
Cavenagh has been appointed as the new club chairman, with Paraag Marathe arriving as vice-chairman.
Rangers’ takeover by a consortium involving the San Francisco 49ers Enterprises & Andrew Cavenagh is now complete. @itvnews understands the club was valued at nearly £150m and new investors have taken a 51% share. Leeds Utd chair Paraag Marathe will now be Rangers’ vice chair. https://t.co/GdNpnkbpYV
— Peter A Smith (@PeterAdamSmith) May 30, 2025
Mark Tober, Andrew Clayton and Gene Schneur also join the boardroom as part of the new regime.
The new investors have pledged to pump £20m into the club as they take over at the helm.
That figure is separate from the monies paid to acquire the 51 per cent shareholding in the club.
As reported by Peter A Smith, of ITV News, the club was valued at nearly £150m as part of the deal.
Read more:
-
New Rangers owners outline 'first priority' after Ibrox takeover
-
Investment plans, board overhaul, Ibrox - Chris Jack answers key takeover questions
He wrote: "Rangers’ takeover by a consortium involving the San Francisco 49ers Enterprises & Andrew Cavenagh is now complete.
"@itvnews understands the club was valued at nearly £150m and new investors have taken a 51% share."
That means a fee in the region of £75m was paid by Cavenagh and 49 Enterprises to take over at Ibrox.
The mention of a £20m investment into the club included in the statement released by Rangers is not part of that figure.
Rather, that will be money invested into the club rather than making up a sum to buy the necessary shares to complete the takeover transaction.
