• CVC offered £275m for 50% share in Premiership
• Premiership to look at other investment sources
A £275m offer tabled by the private equity firm CVC Capital Partners to buy 50% of Premiership Rugby is set to be rejected at Tuesday’s scheduled meeting of the leading club owners. A unanimous vote is required for the bid to succeed but it is understood a significant minority of owners are firmly against the plan.
Far from regarding the proposal as a “gamechanger” for club rugby, the view of some influential voices is that the offer undervalues the league by a considerable amount. Nor, with the professional club game having reached a crossroads in its development, are they keen to cede excessive control to new investors and settle for a far smaller slice of any future profits.
Written by Robert Kitson
This news first appeared on https://www.theguardian.com/sport/2018/sep/07/premiership-rugby-reject-cvc-offer under the title “Premiership rugby clubs set to reject CVC offer in quest for better deal”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.
