Six Nations Rugby has secured a £365m investment after agreeing to sell 14.3 per cent of its share to private equity firm CVC. CVC Capital Partners has now invested more than £700m into professional rugby, with its latest move adding to previous funds in the Gallagher Premiership and the Guinness Pro14. England Rugby released a statement this morning describing the partnership as an opportunity to “grow and develop the game”.
The CVC Fund VII investment will be paid to the six unions over a period of five years, reflecting the long-term nature of the deal. Ben Morel, CEO of Six Nations Rugby, said CVC has a proven track record in supporting growth strategies in sport. “This is a hugely positive development and I want to express my thanks to all parties involved,” he said. “This external investment is an important validation of what Six Nations Rugby has achieved to date and is a key next step as we invest to grow the game on the world stage.”
The Rugby Football Union echoed Morel’s positivity, backing the move to grow the diversity of the sport’s fanbase. “We are delighted that the Six Nations Unions have unanimously decided to partner with CVC,” RFU CEO Bill Sweeney said. “Their expertise will help to grow rugby union through the evolution of improved competitions and events and the growth of a more diverse fan base.”
Source: City A.M
