PREMIERSHIP RUGBY, GOVERNING body for England’s top division, welcomed a ‘new era’ after confirming a deal which sees a private equity firm acquire a reported 27% stake worth more than £200 million (€221 million).
CVC Capital Partners, which had previous involvement in MotoGP and Formula One, initially sought a majority shareholding of 51% but that was rejected.
Premiership clubs voted unanimously to accept the new deal, with the funds raised earmarked for developing facilities and stadiums and expanding the competition into new markets rather than paying increasing players’ wages.
Member clubs will benefit from a multi-million cash injection, according to reports. Premiership clubs recorded losses of a combined £28.5 million in 2016/17.
“The investment… into Premiership Rugby marks the start of a new era for English professional club rugby,” said a statement today.
“We’re happy that CVC’s track record speaks for itself,” said Premiership Rugby chief executive Mark McCafferty.
“They are expecting to be in this for the long term and they understand what’s required to invest and build.”
McCafferty said the investment will help to broaden the appeal of the competition both at home and abroad.
“I expect Premiership Rugby in seven or eight years’ time to be an even more globally followed business. That expansion needs support,” he said.
“The clubs see this as a way to accelerate growth and bring new fans into the game and opening up audiences.”
“We have a salary cap in place and that’s not moving for the next couple of years,” he added. “We are investing in operations and infrastructure, that’s the key.”
Subscribe to our new podcast, Heineken Rugby Weekly on The42, here:
RiP Anna K. other threads blocked.
@Damian Moylan: hear, hear
https://www.gofundme.com/f/1sc9471cmo
Please if you have a chance
If George Hamilton mentions Allison’s lack of clean sheets once more tonight, I’ll make my way to Anfield to personally shove Hamilton’s hands up his own h0le
@Ian Synnott: that’s oddly specific
@Ave it: Hamilton is being very specific about Allison’s lack of clean sheets.
@Ian Synnott: and fireworks…
@Ian Synnott: cant listen to him anymore. Surely he means liverpool’s and not Allison’s. The man had like 22 of them last season. Has played f all this year. This must be why your upset ha.
@Ave it: whilst failing to recognize that this he has only played 4 games this season
@Ian Synnott: I was talking about the hands…
@Ave it: ah sure, why not
@Yorkie1892: Might as well just send him out to watch the fireworks. Lug
Jürgen Flopp
@Joe Shea: well I don’t know what you consider a flop, but I’ll have plenty more of it.
Just look at the style of football being played man.
@Joe Shea: Good man Joe.
@Logan Shepherd: fair play logan
@Joe Shea: He has 1 less UCL trophy than Fergie from about a quarter of the attempts. Fergie, 2 from 19 = PALTRY!
@Roger Paltry: don’t u bring utd into this… That’s not fair .. Ur playing dirty
@Joe Shea: Do you do live gigs Joe. You’re so funny and so original. I’d say it would be a great night.
@Logan Shepherd: a joke is only as good as a laugh or is it other way around
@Roger Paltry: Klopp lost 8 finals in a row before he won one …. you make me laugh Wroger !
@Scott Stonebridge: #fakenews. Klopp won his first final.
Someone get Keith Andrews off commentary
@Brian McGuinness: He’s an abomination,how in the hell did he ever become analyst. The muck put of him. With his Tod Flanders hair cut.
@Brian McGuinness: he’s not as bad as David myler
@Declan O Toole: He’s chronic
@Declan O Toole: Todd Flanders! Brilliant
@Ian Synnott: Ha ha
Can’t beat an Ox in the box.
3-1 Genk
@Fergus O’Connor: draw for sure
@Joe Shea: I see all the pundits are online tonight.
@Fergus O’Connor: Genk are not that good!
@Damian Moylan: No 1-1
Clean sheets this season is very bad. Easy goals from set pieces conceded again.
@Yorkie1892: yeah. Definitely needs ti be tightened up quick. Especially going into crimbo fixtures. Forwards get tired and cant always bail out.
Gomez and Keita not good enough for Liverpool.