A new era is underway at Rangers with confirmation that a group of US investors have taken over a majority shareholding in the club after months of negotiations and legal due process.

Health insurance tycoon Andrew Cavenagh, who is executive chairman of ParetoHealth, is leading the consortium alongside Paraag Marathe, president of San Francisco 49ers investment arm, the 49ers Enterprises, with the group confirmed as having acquired at least 51 per cent of the shares in Rangers.

As a result, the group will now take control of the Ibrox boardroom and the future direction of the stagnant Glasgow giants. A change has been required for some time.

The deal will see former chairmen Dave King and John Bennett part with their shareholding, while others dilute their influence at the club.

Given the extent of change needed at Ibrox, the summer break provides little time for the new hierarchy to bed in but it would be unrealistic to think that planning for next season did not start some months ago while takeover talks progressed.

Although he will officially begin his tenure as Sporting Director on Monday, confirmation of Kevin Thelwell’s appointment in April will mean Rangers should have somewhat of a head start when it comes to hiring a permanent manager.

Thelwell will be responsible for football operations throughout the club, working alongside CEO Patrick Stewart, and his presence will be vital for the new owners as they attempt to arrest Rangers’ underwhelming trophy returns in recent years.

A sizeable in-tray awaits the new custodians of the club but Rangers fans should at least be optimistic in the face of new, energetic voices in the boardroom, with Marathe especially well-versed in British football thanks to his chairmanship of the newly-promoted Premier League side Leeds United.

So, what do the new owners have to tackle in Glasgow first?

Appointing a new manager

Rangers confirmed that Barry Ferguson and his coaching staff would be leaving their roles after their three-month temporary stint in charge ended earlier this month.

The club have spoken to various candidates, including Davide Ancelotti, as they look to appoint a new permanent manager to take over from Philippe Clement, who was sacked in February.

Ex-Southampton, Swansea and MK Dons manager Russell Martin remains another name under consideration.

Steven Gerrard, who delivered Rangers’ only league title in 14 years before departing for Aston Villa, also held initial conversations but it soon became clear the timing was not right for all parties, meaning the ex-Liverpool captain will not be part of the final stages of the process.

With Rangers set to return to pre-season training on June 23 ahead of their Champions League qualifiers at the end of July, Thelwell and Stewart will need to make this appointment a priority – and ensure they choose wisely.

Second place is nowhere in Glasgow, no matter the circumstances, and Celtic’s fourth Premiership win in a row enhances the urgency for Rangers to find a manager capable of leading and sustaining a title charge and winning silverware on a regular basis.

Regain the trust of the supporters

The collective sigh of relief around half of Glasgow, at least, was palpable when news of the potential takeover broke for the first time.

Rangers have been rudderless off the pitch now for far too long. Last summer was shambolic for the club in their preparations ahead of the new season, with Clement tasked with slashing the wage bill while improving the playing squad and being forced to start the season at Hampden Park amid ongoing renovations at Ibrox.

Clement fronted up while a deflated Rangers board appeared to hope for the best as it aimlessly lurched from one problem to the next, possibly with the early days of takeover plans already taking shape in the background.

Poor appointments at executive level, a confused academy setup and continuing off-field legal issues spoke to board members who may have been successful in business but were uncomfortable with the business of running a football club.

Some sections of the support organised a walk out in the 55th minute of Rangers’ win over St Johnstone in January to protest against the running of the club, while fans called for the board – and then sporting director Ross Wilson – to resign as far back as March 2023 with banners in a league match against Motherwell.

Marathe and Cavenagh will be welcomed as heroes at Ibrox simply because they are not affiliated with the previous regime, which was seen to have let the club drift after winning the title in 2021, and fresh blood will do much to counter some of the anger and, more worryingly, apathy which has set in among the fanbase.

An exciting managerial appointment combined with a successful summer transfer window could see the honeymoon period extended well into the winter.

Squad rebuild….again

After such a dreary summer last time around, supporters are excited at the prospect of what fresh investment the consortium could bring into the club for a sizeable push in the transfer window. Clement made mistakes in his time in charge, but few managers would have excelled amid the cost-cutting conditions he found himself working under last summer.

While Rangers should now have more money to spend on refreshing the squad in the off-season, they will still have to spend that cash responsibly. There are sellable assets at Ibrox, such as Hamza Igamane and Nico Raskin, should departures be desired in order to upgrade the squad as a whole.

Access to 49ers enterprises databases, networks and practices will aid the recruitment department in their work over the summer. Nils Koppen has a mixed record in recruitment since his arrival but his focus has been pulled in different directions since moving to Technical Director last November.

Should he remain at the club, Koppen should have the support of Thelwell and the 49ers resources in finding those younger, sellable assets which can help to kickstart a player trading model which has never become fully operational.

Kickstarting the academy & other key appointments

Koppen will find his role shifts now following the appointment of Thelwell and the completion of the takeover.

When confirming in February that Rangers were in the market for a sporting director, Stewart said that role would “complement” Koppen’s and “it will allow him to focus on what he was hired to do, which was to recruit players and, in a wider context, squad planning” after stepping up in the absence of others.

Thelwell and Stewart will also be responsible for the hiring of other roles besides a first team manager. Rangers disbanded their B team in January following an academy review by Koppen but are yet to permanently appoint anyone to lead the youth setup following the departure of academy director Zeb Jacobs a year ago.

Thelwell will have responsibility for the success of the academy, but a renewed commitment to bringing the best young players through the Rangers ranks should be a priority for the incoming board.

Upgrading Ibrox and the training centre

Much was made of the delay in the works to upgrade the Copland Stand at Ibrox at the beginning of the season but supporters will hope that fresh owners and ideas will mean more upgrades to the stadium over time.

Rangers have been exploring ways to increase the capacity of the ground for some time now, with burgeoning season ticket waiting lists and other untapped revenue opportunities currently being left on the table given the size of the supporter base.

The Leeds United hierarchy have announced their intention to expand Elland Road following promotion to the Premier League and Rangers supporters will wonder if similar plans are in the works in the south side of Glasgow.

One area in line for a refresh is at the Rangers Training Centre. During his tenure, Gerrard was keen to see improvements made to the facilities to ensure personnel and tactical privacy, while upgrades have been made periodically, including the building of a stand for youth games.

However, Clement criticised the lack of use of the cryotherapy chambers for recovery when he arrived at the club and, with an expected uptick in ideas, methodology and technology thanks to 49ers Enterprises, it would be safe to assume that modernisations will be needed to ensure staff can take advantage of their newfound resources as the American era gets underway.

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