Ibrox deal done amid talks with ex-Ajax coach – Daily Business

A US-based consortium, including the investment arm of the San Francisco 49ers, has completed a takeover of Rangers, with a pledge to invest £20 million into the club.

The group, led by private healthcare tycoon Andrew Cavenagh, has acquired a 51% stake and will launch a share issue to raise funds.

Mr Cavenagh will become chairman at an annual general meeting at the end of June. His vice-chair will be the current chairman of Leeds United, Paraag Marathe.

The takeover has been granted approval from the Scottish Football Association to overcome any dual interest concerns given the 49ers Enterprises holding full control at Leeds.

Mark Taber, Andrew Clayton and Gene Schneur will become new board members, with Patrick Stewart remaining as chief executive.

Current board members Fraser Thornton, John Halsted and George Taylor will stay on as Graeme Park, Julian Wolhardt and Alastair Johnston step down.

Rangers, meanwhile, have held talks with former Ajax coach Francesco Farioli over the Ibrox manager’s post. 

The 36-year-old Italian resigned from the Dutch giants after an end of season collapse saw a nine point lead whittled away, with PSV Eindhoven claiming the Eredivisie title. Farioli previously managed Alanyaspor in Turkey and Nice in France.

Former Ibrox chief Steven Gerrard has pulled out of the running to return to Glasgow, apparently for family reasons, after being personally endorsed for the role by Dave King.

Farioli held talks with Rangers previously in 2022, before the club instead opted for Michael Beale.

“I’m a very demanding person,” Farioli has been quoted as saying. “Before I join a club, I lay all my strengths and weaknesses on the table.

“‘Demanding’ is probably the best word to describe me. I want to find a club that’s willing to fight alongside me.”

Davide Ancelotti and Russell Martin are two other contenders, along with former Feyenoord boss Brian Priske, the 48-year-old Dane who has also had spells in charge of Midtjylland, Royal Antwerp and Sparta Prague.

Andrew Cavenagh, one of the key figures in the consortium which is poised to take imminent ownership of Rangers, is due to hold talks with candidates and senior figures within the Ibrox hierarchy.