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Seven months after watching his first Rangers game as another face in the crowd, Andrew Cavenagh yesterday returned to Ibrox as chairman.
And three weeks on from the consortium involving 49ers Enterprises buying a controlling stake, an initial £20million investment was approved at an EGM with the American health care tycoon later facing the media for the first time.
Mail Sport was there to hear Cavenagh’s thoughts on the relevant issues which will shape the Glasgow giants going forward.
INITIAL INTEREST
‘I was on the upper east side of Manhattan outside a coffee shop about to go to a New York Yankees game.
‘I’ve known about Rangers forever as a football fan. So, when the phone call came to ask if I’d have an interest, it was a lightning bolt moment.
‘The call was from Les Allan, a banker in New York. I had met him six months prior and he knew our group was interested in a rare, but good opportunity in football.
Andrew Cavenagh laid out his vision for the future at Rangers ahead of the club's EGM
The US businessman said that he could 'feel the history' as he walked up the marble staircase
Cavenagh later addressed staff, shareholders and the media at a hotel in Glasgow city centre
‘Les called me and I said: “Absolutely”. Three seconds later, I was on the phone to Paraag (Marathe).
‘There are many things about this club that are attractive. The breadth and depth of the fanbase is incredible.’
SHORT-TERM CHALLENGES
‘When I think about the short term, I don’t focus on challenges. I focus on opportunities. We have what I believe are the right plans and we are beginning to have the right team in place, and by that I mean the staff, not the squad — that will continue to change over the summer.
‘This club has so much potential and we are eager to take that potential energy and turn it into kinetic energy.’
IDENTIFYING RUSSELL MARTIN
‘There were four criteria that we looked at for head coach. One, somebody who would coach what we think is the right style of play or game model. Two, someone to build the culture and the way we think it needs to be built. Three, someone who will develop talent. And four, someone who will win matches.
Russell Martin was the 'standout' managerial candidate for the new Rangers board
'Russell was the standout across all those metrics, unanimously among our team.’
TRANSFERS IN & OUT
‘The window isn’t something that just opens and closes the way it sounds like. There are lots of different concurrent things happening over the summer.
'The only thing I would say is that the club is in a different position this year, where we can be patient from a financial perspective. When there is the right opportunity, we will jump at it, and where it is right to be slow, we will be slow.
‘We won’t go into individual players or even this summer’s window with any specificity. But the world of football is one where you acquire players and they move on for bigger fees. That is part of the financial model for any club.
'At any club that is not one of the top five in the world, players are not permanent, and players will at times move on and clubs will make a fee for them. It is good for the club and good for the players.’
EXPANDING IBROX
‘The expansion of Ibrox is something of interest to us, but it’s not one of our short-term goals.
Cavenagh has said that he is hoping to expand Ibrox but that it is 'not a short-term' priority
‘Right now, we’re focused on improving on-pitch performance as well as the infrastructure of the club itself.
‘Any increase in revenue we can get, we’ll put it back on to the pitch. But, at the same time, we’re beginning to put together a multi-year plan for the physical plant, which would include Ibrox, the land around it and Auchenhowie. But it’s early days on that.’
IMPORTANCE OF THE CHAMPIONS LEAGUE
‘Every year that is our goal. It is important because it brings more revenue. It will always be our benchmark.
‘I look at this pretty simply. We have plans for anything. It is not as if we are banking on that and if it doesn’t happen then there is some sort of a problem. That is not the case at all. But it is our goal.
‘As we increase revenue, which comes from the Champions League, then we get to re-invest that in the club. That is why it is the goal from both a sporting perspective and the revenue model perspective.’
RISING TO THE CHALLENGE OF ENDING CELTIC’S DOMINANCE
‘We relish that challenge. We are impatient, we are competitive, and so we look forward to the challenge.
Overhauling champions Celtic at the top of the Scottish football tree is Cavenagh's No 1 goal
‘I think rivalry is one of the things that makes football great. Our rivalry with Celtic... Rangers wouldn’t quite be the same without that rivalry. It’s top five in the world. Boca-River Plate, Lazio-Roma, Celtic-Rangers, those would be the three that come to mind. It’s fantastic to have that rivalry. And we look forward to the challenge.’
THE INVESTMENT & SUSTAINABILITY
‘We have been careful to not say we won’t put more in and to not say we will put in more.
‘When we think about the amount of capital that is needed, we look at it through three lenses.
‘The first is what impact it will have, and we think £20m is the right amount this summer. Then we look though FSR (financial fair play) and making sure we are running the club in a sustainable way.
‘We are not looking for what I think of as the sugar high — come in spend some money, sign some players and try to win something and then you have the sugar crash that comes from that.
‘Our ownership group has looked at this on a long-term basis. One of the things we hope we bring is the financial power to create stability so we are not living hand to mouth and the club can operate from a platform of stability.’
Cavenagh claimed that his recent visit to Celtic Park was one of his best football experiences
REMAINING ACCOUNTABLE DESPITE BECOMING PRIVATE COMPANY
‘When the company is private, it wouldn’t have an AGM in the same sense.
‘Our commitment is to meet with shareholders once a year and communicate additionally as necessary.’
LIFE AT RANGERS SO FAR
‘The last few months have been incredible experience. One of my favourite moments in life is the five minutes before the match kicks off when you can feel the electricity.
‘I was lucky to go to the match at Parkhead and it was incredible. I learned a couple of new phrases and gestures when I was there but it was a fantastic experience!
‘It was the first match where our fans were allowed back in and we had 2,500 fans there. But they were incredibly loud and vocal in showing their support.
‘It was one of the best football experiences of my life.’
