American Tycoon Andrew Cavenagh Emerges as Key Figure in Rangers Takeover
Health insurance magnate Andrew Cavenagh has stepped into the spotlight as a central figure in the US consortium’s acquisition of Scottish Premiership giants Rangers.
For the first time since Record Sport revealed his leading role in the takeover, Cavenagh has spoken publicly. Ahead of Rangers’ crucial Europa League second-leg clash with Fenerbahce, it was reported that he would be part of a high-profile delegation receiving VIP treatment at Ibrox.
The four-man group also included Gretar Steinsen, a representative of the San Francisco 49ers and former Iceland international, who was recruited by the NFL franchise for a key role at Leeds United.
Last week, Cavenagh traveled to Istanbul to witness Barry Ferguson’s men secure an impressive 3-1 victory over Fenerbahce. He then arrived in Glasgow on Thursday afternoon, checking into a luxury hotel before experiencing an electrifying night at Ibrox. From the stands, he watched as Ferguson’s side triumphed over Jose Mourinho’s team in a dramatic penalty shootout, securing a place in the quarter-finals.
Following the match, Cavenagh briefly addressed Sky Sports, saying, “A great match tonight. I’m just here to support the club.” His presence in Scotland further signals that his multi-million-pound takeover is nearing completion.
Earlier this year, Record Sport reported that Cavenagh attended Rangers’ home fixture against St Johnstone in January—before his involvement in the US consortium’s plans to acquire a controlling stake of over 50% was widely known.
Based in Philadelphia, the medical insurance mogul is positioning himself at the forefront of the effort to revitalize Rangers’ fortunes. It is believed that agreements to acquire shares from several major stakeholders have already been finalized, with legal teams now handling the final formalities.
As part of the deal, Cavenagh and Paraag Marathe—head of 49ers Enterprises and chairman of Leeds United—have committed to injecting significant funds into the club ahead of the summer transfer window.
