Major Ibrox Revamp as Rangers Completely Dump Old Regime | OneFootball

Prior to the seismic takeover at Ibrox, Rangers’ executive leadership was as lean as it gets. Patrick Stewart stood alone as the club’s only executive director, having been appointed CEO in December after a long stint at Manchester United. His role was to bring a level of professionalism and modernisation to the club’s internal structure, and while steady, it was a lonely perch at the top with no real executive team around him.

That all changed with the arrival of American investor Andrew Cavenagh, who—backed by 49ers Enterprises—led a £90 million takeover of the club just days ago. The new ownership wasted no time reshaping the club’s hierarchy into something altogether more modern, and finally, Patrick Stewart has executive company.

Cavenagh now sits as chairman, bringing with him the strategic vision of an entrepreneur and founder of ParetoHealth. Alongside him comes Paraag Marathe, vice-chairman and well-known to football fans for his dual role as president of 49ers Enterprises and chairman of Leeds United. This duo immediately elevates Rangers’ boardroom presence, and signals a far more collaborative structure going forward.

Stewart remains CEO, maintaining continuity through the transition, while the new board has been fleshed out with experienced non-executive additions including Mark Taber, Andrew Clayton, and Gene Schneur, each bringing a deep portfolio of business expertise. Perhaps most notably, former chairman Fraser Thornton continues as a non-executive director, providing a sense of grounding amidst the dramatic changes.

The structure now gives Rangers three defined executives—Cavenagh, Marathe, and Stewart—where previously there was only one. It’s a shift that mirrors top European clubs and offers a stronger foundation for financial, operational, and sporting success.

The new board has pledged an immediate £20 million investment into the first-team squad, promising tangible backing for the next manager. But more than money, it’s the strategic strength behind the scenes that could finally propel Rangers into a new era.

From Stewart alone to a full executive trio, Rangers are no longer just modernising—they’re restructuring with serious intent.