By Bill Heaney
The flags around Ibrox Stadium will still be red white and blue with the US stars and stripes taking precedence over the Union Flag.
And they will be blown by an exciting wind of change after Rangers Football Club was today taken over by a US consortium of rich business persons.
American investment has been warmly welcomed by Rangers fans desperate to see stars not only on the US flag flying over the stand, but out on the field of play as the team return to winning ways.
The takeover of Rangers by the 49ers Enterprises has at last been confirmed with the new owners committing to invest £20 million into the club.
American health tycoon Andrew Cavenagh, who has been the driving force behind the deal, will become chairman.
He takes a controlling stake alongside 49ers Enterprises, represented by vice chairman Paraag Marathe.
Cavenagh, who recently jetted into Glasgow to lead the search for a new manager, said: “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.”
Mark Taber, Andrew Clayton and Gene Schneur will join Cavenagh and Marathe as new members of the Board. Patrick Stewart, Fraser Thornton, John Halsted, and George Taylor will remain on the Board. Graeme Park, Julian Wolhardt, and Alastair Johnston are stepping down “with deep thanks”.
Cavenagh, who runs a US health insurance firm, first visited Ibrox for a game against St Johnstone in January and has been a regular at Rangers games. The first big decision for the new bosses will be to appoint a manager.
Davide Ancelotti – son of Brazil boss Carlo, one of the world’s top names in the dugout – has been at the forefront of recent discussions, with former Southampton boss Russell Martin also linked to the role.
It emerged in February that the American consortium have been in discussions with the current board since late last year. The buyout will see the consortium acquire 51% of the club and is expected to lead to major changes this summer, after another trophyless season left fans frustrated yet again.
Ibrox favourite Barry Ferguson took on the role on a temporary basis following the sacking of Philippe Clement earlier this year. Former manager Steven Gerrard has also been mooted, although he is understood to have ruled himself out.
It is a critical decision for Cavenagh and Marathe, with new sporting director Kevin Thelwell also involved. Thelwell, who has moved from Everton after previously working at Wolves and New York Red Bulls, will overhaul the playing squad as the new owners bankroll a new bid to eclipse Old Firm rivals Celtic.
Outgoing chairman Stewart and Leeds United technical director Gretar Steinsson make up the group of five who have been laying the groundwork for the new regime.
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.”