Cavenagh and 49ers Enterprises group have already splashed £40million on new signings since completing their takeover at Ibrox

17:30, 29 Mar 2026Updated 17:50, 29 Mar 2026

Rangers Chairman Andrew Cavenagh

Andrew Cavenagh is set to play a hands on role in Rangers‘ transfer drive this summer after confirming that he will pump a further £16million into the Ibrox coffers via a share issue.

That’s according to Record Sport‘s very own Keith Jackson, who also believes that the Light Blues are ‘far down the line’ with a deal for Dundee starlet Luke Graham.

We exclusively told you on Sunday that Gers scouts were at Dens Park on Friday night to watch the defender in action as Scotland U21s played out a 0-0 draw with the Czech Republic.

Graham has been a top performer for Steven Pressley’s side this season and has already been the subject of an upwards bid of £1.5million bid from English Championship team Portsmouth that was thrown out in January.

Since Cavenagh and 49ers Enterprises completed their takeover at Rangers back in May, they have splashed £40milion on new signings in their first two windows, although that is offset against the £20million recouped from player sales.

The health business tycoon has also confirmed that the club will not be filling the vacancy left by sacked sporting director Kevin Thelwell, with manager Danny Rohl, chief executive Jim Gillespie, technical director Dan Purdy and recruitment consultant Stig Inge Bjornebye all working in tandem on the transfer front as well.

And Jackson believes the American will also have his say on who could come into the building this summer.

Speaking on Record Sport’s Hotline Live on Sunday, he said: “I think they are quite far down the line with Luke Graham. I think he’s been identified for a number of weeks now.

“Interestingly, I believe that Andrew Cavenagh is quite central to some of the discussions.

“You would have expected him to delegate and let the minions handle that stuff but I think he has taken personal interest in what the recruitment department are looking at this summer.

“I expect them to put a bid in for him. It wouldn’t surprise me if they did a deal with Dundee to buy him and the loan him back next season so he can get another year of Premiership experience.

Dundee’s Luke Graham

“That would be better for his development than sitting struggling to get minutes at Ibrox.”

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