Rangers shareholders have given approval for the club's new American owners to invest £20m into the club, with new chairman Andrew Cavanagh pledging they are at Ibrox "for the long haul".

At an extraordinary meeting in Glasgow, the four resolutions tabled were voted through with 98% of shareholder backing.

One of those was for extra cash pledged by healthcare entrepreneur Cavenagh and his consortium, which includes the investment arm of NFL club the San Francisco 49ers, to be allowed to come into the Scottish Premiership club.

Another was for Rangers to be re-registered as a private limited company rather than publicly listed.

Cavenagh became Rangers' new chairman and Paraag Marathe - the Leeds United chairman - was installed as vice-chairman after the takeover was completed last month.

Asked why he has invested in Rangers, Cavenagh said there were three reasons: the "supporters' passion", the stadium - "Ibrox is our castle and it gives the team an advantage" - and "the competitions they play in - the league, the cups and Europe".

Rangers, runners-up last season, have won the Scottish Premiership once in 14 years dominated by city rivals Celtic.

Cavanagh said the controlling groups ambition is "to put the club in the position to win the league, win cups and be more competitive in Europe".

He also added that he and his fellow investors are focusing on building the club rather than how they might realise any profit.

"[We have] no exit plan but a growth plan," he said. "We'll figure out exit plan after growth."

Kevin Thelwell also joined as sporting director from Everton this summer, with former Southampton manager Russell Martin arriving soon after as head coach and looking to reshape the squad.

When asked about how the £20m will be spent, Cavenagh said: "We will be transparent where we can be, but we will be opaque in other areas and this is one."

The Rangers squad arrived for pre-season on Monday, with Martin's first competitive game set to be against Panathinaikos in Champions League qualifying next month.

Marathe, who also holds a senior executive position with the San Francisco 49ers, said he would oversee a period of change at Ibrox.

He told the EGM audience that he "has a deep expertise in running sporting organisations and turning them around".