RANGERS ARE CALIFORNIA DREAMIN'

Promise of blue skies as US consortium's £75m takeover is confirmed

- Ben Borland

THE estimated £75million takeover of Rangers by a US consortium was confirmed yesterday, with the new owners committing to invest £20m into the football club.

Health tycoon Andrew Cavenagh, who has been the driving force behind the deal, will become chairman and takes a controlling stake alongside 49ers Enterprises, represented by new vice chairman Paraag Marathe.

Cavenagh, who recently jetted into Glasgow to lead the search for a new manager at Ibrox, said: "We are deeply grateful for the trust placed in us by the Rangers board, shareholders, staff, and supporters.

"This club's history and traditions speak for themselves, but history doesn't win matches. We know that the true way to honour the club's heritage will be to drive performance.

"Our focus is simple: elevate performance, deliver results, and bring Rangers back to where it belongs - at the top."

In an open letter to fans, the new leadership duo said: "Simply put, our goal is to win trophies in Scotland and be able to compete at a high level in Europe, while laying a foundation of financial sustainability for the future."