The winds of change are blowing through Ibrox — and this time, it’s monumental. According to The Rangers Review’s Chris Jack, the long-rumoured takeover by 49ers Enterprises is all but complete, with a 51% controlling stake in Rangers now locked in. Make no mistake: this is the dawn of a new era for our club and will change Scottish Football forever.
The 51% That Changes Everything
After months of negotiations behind the scenes, American healthcare tycoon Andrew Cavenagh and 49ers Enterprises have finally secured the backing they need. By acquiring shares from existing investors — including former chairman Dave King and current chairman John Bennett — and a new share issue, they’ve reached the all-important 51% threshold. That gives them majority control of RIFC plc and, effectively, the keys to Ibrox.
There had been whispers that Sandy Easdale’s 2.25% stake might throw a spanner in the works, but those fears have been quashed. His shares aren’t needed for the deal to go through, meaning the path is clear for Cavenagh and 49ers chief Paraag Marathe to take over without internal complications.
End of the King Era
Dave King, a pivotal figure in the club’s recent history, will officially step away as part of this transition. Speaking to The Rangers Review, King called this deal his “parting gift” to the fans. It marks the end of his 25-year association with the club — a tenure that included leading the resistance against Mike Ashley’s damaging influence.
King has always maintained that the right people would need to take over — individuals with the skillset, resources, and, crucially, the respect of the Rangers support. In Cavenagh and Marathe, he believes those criteria have been met.
Read More: Dave King Breaks Silence on 49ers Takeover of Rangers.
Big Changes Incoming
With a majority stake in place, significant boardroom changes are expected before the new season kicks off. Marathe, who is also the chairman of Leeds United, is tipped to bring sweeping reform to the club’s upper structure. And with the financial backing of 49ers Enterprises, fans can expect substantial investment both on and off the pitch.
Let’s be clear: this isn’t just about new faces in the boardroom. This is about ambition. About ending Celtic’s dominance. About restoring Rangers to the summit of Scottish football while aiming high on the European stage.
What About Leeds United?
Despite Marathe’s involvement at Leeds, there’s no impact on the Rangers deal. FA changes to dual ownership rules, and Leeds’ likely promotion to the Premier League, won’t derail the Ibrox takeover. The legal structure of 49ers Enterprises allows them to navigate any regulatory issues with ease.
Fans’ Forum and the Future
With Rangers CEO Patrick Stewart set to speak at a fans’ forum this week, the timing of this news couldn’t be better. After a season of ups and downs, this announcement provides a much-needed injection of hope and momentum. For the first time in a long while, it feels like a strategic plan is being executed behind the scenes — one that could change Scottish football forever.
Final Thoughts
This isn’t just about money or new owners — this is about leadership, vision, and belief. If 49ers Enterprises deliver on their promise, we could be looking back on this moment in years to come as a defining turning point in Rangers’ history.
The rebuild begins now.
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