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Rangers: £20m investment by new owners approved


Rangers shareholders have given approval for the club’s new American owners to invest £20m in the club.

At an extraordinary general meeting in Glasgow, the four resolutions tabled were voted through with 98% of shareholder backing.

One of those was for extra cash pledged by Andrew Cavenagh and his consortium, which includes the investment arm of the San Francisco 49ers, to be allowed to come into the club.

Another was for Rangers to be re-registered as a private limited company, rather than publicly listed.

Cavenagh became Rangers’ new chairman and Paraag Marathe – the Leeds United chairman installed as vice-chairman after the takeover was completed last month.

Kevin Thelwell also joined as sporting director before former Southampton boss Russell Martin arrived as head coach.

The Rangers squad arrived for pre-season on Monday, with Martin’s first competitive game set to be against Panathinaikos in Champions League qualifying next month.

Speaking last month, Cavenagh 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.”



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