The deal, agreed in principle, aims for the consortium to acquire at least a 51% controlling stake in the club ahead of the 2025/26 season .
Cavenagh, a healthcare tycoon, and Marathe, president of 49ers Enterprises and chairman of Leeds United, have been in discussions with Rangers since October 2024. Despite challenges related to the club’s fragmented ownership, both parties are committed to finalizing the acquisition . The takeover is seen as a strategic move to inject capital and advance the club’s ambitions.
In parallel, Rangers have appointed Kevin Thelwell as their new sporting director. Thelwell, who will join after his contract with Everton ends, brings extensive experience from his previous roles at Wolverhampton Wanderers, New York Red Bulls, and Everton. At Rangers, he will oversee all football operations, including the men’s, women’s, and academy teams .
The proposed takeover and leadership changes come as Rangers navigate financial challenges, including a reported net loss of £17.2 million in October 2024 . The involvement of investors with a track record in sports management and investment is expected to provide the club with the resources and strategic direction needed to compete at the highest levels.
As the deal progresses, Rangers supporters are hopeful that the new ownership will usher in a new era of success for the club.
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