Premiership Rugby completes a new partnership with leading private equity and investment advisory firm CVC Capital Partners.
The £200m investment by CVC Capital Partners Fund VII (“CVC Fund VII”) into Premiership Rugby marks the start of a new era for English professional club rugby.
Twenty three years after rugby union turned professional, Premiership Rugby has signed an agreement for CVC Fund VII to invest in a minority shareholding, representing the latest commitment by CVC to the sports, media and entertainment sector; a firm which has previously led investments in Moto GP, Formula One, Stage Entertainment and Merlin Entertainments.
“We are delighted to have partnered with CVC, a company which has a very impressive track record of helping to grow sports businesses such as Premiership Rugby. Further developing the global appeal and following for the Gallagher Premiership through investment in the product and fan experience is one of the main priorities for the partnership.” said Premiership Rugby’s Chief Executive Mark McCafferty, who confirmed the investment deal was agreed unanimously by the Clubs.
The funds will be distributed equally to the 13 PRL clubs, with Exeter Rugby Group receiving an additional payment in connection with their tax position. Isca Ventures acted as lead corporate finance advisers to Exeter Rugby Group on the transaction.
“We valued the advice and support of Isca Ventures in helping Exeter Rugby Group and PRL deliver this transaction. Their knowledge of private equity backed transactions was invaluable” said Exeter Rugby Group’s Chairman, Tony Rowe OBE.
Exeter Rugby Group’s Chairman, Tony Rowe OBE.