Exeter Rugby Group, owners of the Exeter Chiefs rugby franchise and Sandy Park conference centre, has been acquired by US-based private equity investor Black Knight.
Black Knight’s sports division has invested in several leading global sports, including investments in football, ice hockey and now rugby.
Bill Foley, the head of Black Knight, said: “Exeter Rugby Group is the type of asset we have been seeking as we transform Black Knight into a focused portfolio of sports and entertainment businesses. We have a proven track record of building successful sports and entertainment brands, like Black Knight’s network of football clubs, and we intend to bring that same approach to Exeter.”
Tony Rowe, CEO of Exeter Rugby Group, added: “Black Knight’s partnership from both a capital and operation perspective will allow Exeter Chiefs to move into the franchise era with ease. With Black Knight, we can look forward to a positive future, building on what we have already achieved to keep pushing for success on and off the pitch.”
This acquisition has also been welcomed by England’s two main rugby sporting bodies, PREM Rugby and the RFU.
Simon Massie-Taylor, CEO of PREM Rugby, said: “As proven owners in Premier League football with Bournemouth and in the NHL with the Las Vegas Golden Knights, Black Knight understands elite sport and what it takes to build a high-performance environment on and off the pitch. Their arrival is another powerful signal of where English rugby and PREM Rugby is heading.
Bill Sweeney, RFU CEO, said: “This is another positive signal for the future of professional rugby in England. Alongside recent investments in Newcastle Red Bulls and Bath Rugby, as well as growing interest across PREM Rugby, it reinforces that the English game remains a highly attractive proposition, with ambitious clubs, passionate supporters and real growth potential.
Isca Ventures, Oakwell and Stephens & Scown advised Exeter Rugby Group, and BDO and Bird&Bird advised Black Knight.
“Isca Ventures put a robust process together for the sale of Exeter Rugby Group. They considered multiple exit and investment options, advised the board, ensured the right transaction team was assembled and helped project manage the transaction to a successful completion. We have valued working with the Isca Ventures team for over 10-years and would highly recommend their team.” added Tony Rowe, CEO, Exeter Rugby Group.
