Rangers Football Club has been taken over in a reported £75 million deal.
The takeover by Andrew Cavenagh and 49ers Enterprises gives the consortium a 51 per cent controlling stake in the club.
Cavenagh has been appointed club chairman, while Paraag Marathe will serve as vice-chairman.
The boardroom will also see the addition of Mark Tober, Andrew Clayton, and Gene Schneur.
The new majority investors have committed to injecting an additional £20 million into the club, separate from the takeover fee.
ITV's Peter A Smith estimated the club's value at nearly £150 million as part of the takeover.
He wrote: "Rangers’ takeover by a consortium involving the San Francisco 49ers Enterprises & Andrew Cavenagh is now complete.
"@itvnews understands the club was valued at nearly £150m and new investors have taken a 51% share."
Using those figures, a £75m fee was required to buyout shareholders for the new regime to acquire a controlling stake.
