• Takeover bid was turned down by clubs in September
Premiership club owners are likely to vote for a proposal to give a minority stake to the private equity firm CVC in return for more than £200m, two months after they turned down a takeover bid.
CVC, which held a majority stake in Formula One between 2006 and 2017, came back with a new offer that would mean it ran the commercial arm of the Premiership but not the league itself. This would keep the agreement within World Rugby’s regulation governing ownership and mean the 12 clubs enjoyed a greater proportion of profits than under the original bid.
Written by Paul Rees
This news first appeared on https://www.theguardian.com/sport/2018/nov/27/premiership-clubs-likely-to-agree-200m-deal-sell-stake-cvc-rugby-union under the title “Premiership clubs likely to agree £240m sale of stake to former F1 owner CVC”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.
