Andrew Cavenagh twist emerges as Rangers takeover ready with 51% shares
Andrew Cavenagh is part of the American consortium, along with the 49ers Enterprises, which is looking to take over at Rangers.
Cavenagh, the chairman of ParetoHealth, has taken a senior role as the 49ers Enterprises and Paraag Marathe look to take control at Ibrox, and a twist has emerged regarding the businessman.
The Light Blues have stagnated over the last few years, with fresh investment potentially needed to revive the Glaswegian giant.
With the possible arrival of the new owners, it will be interesting to see how the boardroom will be restructured, which may depend on who owns the majority of the shares.
Cavenagh to have larger share at Rangers after takeover
Cavenagh will be the larger party within the block to buy controlling shares at the Bears, according to The Athletic.
The news outlet reports (26 February) that the American consortium will purchase the Gers through a separate vehicle that will include both the ParetoHealth chairman and the 49ers Enterprises.
With the investment group looking to take a controlling stake, they will need to own at least 51 per cent of the shares.
It has been claimed that the consortium has identified enough shares to take control of the decision-making at Rangers, and it’s expected to be processed in the next few months.
Ibrox set for revamp under Cavenagh and the 49ers Enterprises
Patrick Stewart took charge at a sunken Ibrox after James Bisgroves and John Bennett’s departures last summer.
The new chief executive officer was expected to turn the tide at the Gers but has been underwhelming during his initial days after failing to make the right call regarding Philippe Clement sooner.
The Belgian manager struggled at the Glaswegian outfit before finally being dismissed after losing to St Mirren in the Scottish Premiership at Ibrox on Saturday (22 February).
Barry Ferguson has been appointed at Ibrox on an interim basis until the end of the season as the boardroom seemingly look to change the mood around the Light Blues.
| Rangers Shareholders | Share (Round) |
| Dave King | 13% |
| Douglas Park | 12% |
| George Taylor | 10% |
| Stuart Gibson | 9.5% |
| John Bennett | 7% |
| Julian Wolhardt | 6.7% |
| John Halsted | 6% |
The Bears are going through a rough patch, and it remains to be seen when the potential takeover will be official.
Once the new owners make their way to the Glaswegian outfit, they will likely want to make significant changes, including appointing a permanent manager.
The Gers’ finances haven’t been the best recently, but that could possibly change under Cavenagh and the 49ers Enterprises.
It will be interesting to see whether Cavenagh will demand more say in the boardroom if he becomes the major shareholder.