PA MediaRangers have confirmed “productive conversations” with a US-based consortium aiming to complete a takeover of the club.
It emerged in February that American insurance firm owner Andrew Cavenagh and the 49ers Enterprises had been in talks since late 2024 about acquiring a controlling stake in Rangers.
A statement issued on behalf of Rangers and the consortium interested in acquiring control of the club released on Wednesday evening indicated that a deal was edging ever closer.
“Rangers and its existing controlling shareholders are in productive conversations with the two lead members of the consortium, Andrew Cavenagh and 49ers Enterprises Global Football Group, about the potential for the consortium to acquire control of the club and to inject additional capital,” it read.
PA Media“These discussions reflect a shared recognition of the importance of Rangers FC’s long-term direction, ambitions and management.”
There was further positive news for Rangers when they announced the appointment of Kevin Thelwell as their new sporting director.
The 51-year-old will start work at Ibrox this summer following the expiry of his contract at Everton, where he has been director of football since 2022.
Thelwell, who also held prominent roles at Wolves and New York Red Bulls prior to moving to Goodison Park three years ago, told Rangers’ website: “This is a huge honour for me to be joining a club with the size, stature and expectations of Rangers.
“From the first conversations, it was clear to me how ambitious the club is, and I’m excited to play a part in shaping its next chapter.
“I know how much Rangers means to so many people, and that brings both responsibility and motivation. Rangers needs to win. That’s the bottom line.
“There’s a strong foundation already in place, and I look forward to working closely with the teams across the men’s, women’s and academy programmes to build something that delivers consistently.
“Of course, there’s important work ahead, especially in men’s first-team structure but we’ll approach it with energy and purpose. While change takes time, I’m confident that we can make real progress. I can’t wait to get started.”
Chief executive Patrick Stewart, who has been leading the search for a new sporting director to sit “right at the top of the football tree”, added: “I am delighted to be welcoming Kevin to the club following a rigorous recruitment process.
“Our football review quickly identified the need to appoint a sporting director, and in Kevin, we have found an outstanding candidate with terrific experience in the Premier League and the MLS.
“It will be the role of Kevin, with the full support of myself and the board to lead our football department and deliver the results our supporters expect and deserve.”
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