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Cavenagh vows he'll add any extra revenue to £20m warchest in bid to make Gers No.1 again

- Scott McDermott

ANDREW CAVENAGH says his immediate priority is making Rangers the No.1 club in Scotland again after years of Celtic dominance.

The new Ibrox chairman's £100million takeover, along with 49ers Enterprises, was rubberstamped at the club's EGM in Glasgow yesterday.

American health insurance tycoon Cavenagh was applauded by shareholders as he officially took over.

An initial £20m is being invested by the new owners, which will help pay for new manager Russell Martin's recruitment drive this summer - and Cavenagh promised the funding won't stop there.

He said: “Any increase in revenue we can get, we'll put it back on the pitch.”

Cavenagh insists he's not at Rangers to be second best.

When asked about the challenge of overtaking their Old Firm rivals and how quickly it could be done - he said: “We think it’s achievable or we wouldn’t be here.

“We don’t think it will be easy and it's not going to happen instantaneously.