Advertisement League of Ireland Horse Racing TV Listings GAA Fixtures The Video Review Sport meets news, current affairs, society & pop culture Rugby Weekly Extra Dive into all the news and analysis 3 times a week The Football Family Weekly insights from the week’s big talking points Advertisement More Stories Andrew Cavenagh, left, is the new Rangers chairman.Andrew Milligan/PA Rangers' new American owners promise €24m investment after completing takeover Consortium now owns 51% of the Ibrox club. 2.00pm, 30 May 2025 Share options RANGERS’ NEW AMERICAN have promised a €23.8 million (£20m) injection into the football side of the Ibrox club after completing their takeover. The Glasgow club announced that a consortium of investors, led by Andrew Cavenagh and 49ers Enterprises, has purchased a majority stake in the club. Advertisement The new leadership now owns 51% of Rangers following a number of share purchases and has committed to invest £20m into the club, the vast majority to be spent on players. Healthcare executive Cavenagh will become chairman, while Paraag Marathe, who is chairman of Leeds and president of 49ers Enterprises, becomes vice-chairman. Rangers say the Scottish Football Association approved the deal late on Thursday night after the club sought consent over dual ownership issues. Sports investment firm 49ers Enterprises owns a majority stake in Leeds. A similar investment into Hibernian involving the Black Knights, the consortium that owns Bournemouth, was subject to SFA requirements that the stake in the Easter Road club did not exceed 30%. The deal will allow Rangers to step up their recruitment of a new manager with outgoing Real Madrid assistant manager Davide Ancelotti the front-runner, but no movement is expected until next week. 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