How much cash do Andrew Cavenagh's company manage amid Rangers takeover? Investor's key role in focus

Rangers are currently sat in 2nd place in the Scottish Premiership table behind Celtic but have designs of being champions in coming seasons.

Barry Ferguson is currently in caretaker charge at Ibrox. He was picked as their interim replacement for Philippe Clement. The Belgian was sacked after a poor run of form and Ferguson has since done a decent job since taking over. The Glasgow giants have a big decision to make regarding their managerial situation over the coming months.

A deal between Rangers and US investors 49ers Enterprises alongside health tycoon Andrew Cavenagh is said to have been agreed in principle, as per Sky Sports. The report suggests that talks have been going on since October and that there is confidence that an agreement can be struck before the start of next season which would be a boost.

What is Andrew Cavenagh’s role in Rangers’ takeover?

Cavenagh is one of two key figures involved in the deal. The health insurance tycoon is working alongside Paraag Marathe, who is president of San Francisco 49ers investment arm the 49ers Enterprises.

Marathe has refused to confirm whether they are in discussions with Rangers and is coy on the situation. He said at Financial Times Business of Football Summit: "I can't really comment on whatever rumours might be out there. But like I said, we are always looking at other opportunities. We have been.

"And I think it is doable to replicate the passion [he has for Leeds]. What we are looking for is clubs with the right bones, clubs with the right history of success. Clubs with the right potential for growth and if you're a sportsperson and you love it and you treat it as a way of life, so to speak, like I do, then absolutely there's enough room in your heart. Just like there is to love all of your children, there's enough room in your heart to love all your sports properties."

How much cash does Andrew Cavenagh's company manage?

Cavenagh is executive chairman of ParetoHealth. They are a US based company who manage around £5.2billion in assets. They announced earlier this year that he would be stepping down from his official job title but that he would still be involved.

He started his career in the commercial banking sector after graduating from Swarthmore College. He initially worked for various traded insurance companies and served on committees and boards of industry groups including the Self-Insurance Institute of America (SIIA). Prior to forming ParetoHealth, Cavenagh helped found Garnet Captive Services, LLC and Elevate Insurance Services.

ParetoHealth’s February boardroom shake-up has seen Maeve O’Meara succeed Cavenagh as CEO. Board member Cem Behmoaram has said: “We could not think of a better successor to Andrew, who has done a tremendous job leading the company since inception and will remain an active partner as ParetoHealth continues to help employers rein in their healthcare spend.”

What other clubs are US owned?

It is worth noting that Rangers wouldn’t be under a multi-club ownership with Leeds United. In terms of other teams who are US owned, Hibernian are owned by the Gordon Family. Meanwhile, St Johnstone, Dundee, Dundee United and Aberdeen all also have ownership from the States.