Rangers takeover LIVE as 49ers revolution kicks off and fans react to momentous news

It's been a long time coming but the big day has finally arrived - Rangers are under new ownership.

Record Sport first revealed back in February that the club had been targeted for a potentially transformative takeover.

And now the complex deal has been completed as a new era dawns at Ibrox Stadium – after the SFA gave an eleventh hour green light to the move.

US pharmaceutical tycoon Andrew Cavenagh is the man who led the San Francisco 49ers-backed takeover and is now in a position of power at the top of the marble staircase. He is now chairman of the board, with Fraser Thornton being relegated to the role of director.

The next job for the new custodians is to hire a permanent manager with Davide Ancelotti the red hot favourite.

But the crucial thing is they now have keys to Ibrox and the American revolution can officially start down Edmiston Drive.

Follow all the latest developments on a day of drama right here in our LIVE blog.

The new Rangers takeover chiefs have sent an open letter to fans.

Within that message they have outlined their three point plan and set priorites going forward at Ibrox.

As part of the first words from chairman Andrew Cavenagh and vice chairman Paraag Marathe, they have thanked the previous board for all their efforts and told the Light Blues faithful the three things they've felt that sets them apart as a club.

The new men at the help have penned an open letter to the fans

Dear Rangers Supporters,

We are proud to be entering a new chapter for this extraordinary club. This moment is the result of months of thoughtful discussions with club leadership and our shared confidence in Rangers’ success going forward.

To that end we’d like to tell you a bit about our thinking.

Simply put –