Chiefs secure £5m funding for purchase of Premiership Rugby shares

Exeter Chiefs have bought the Premiership Rugby ‘P Shares’ of Leeds Carnegie for about £5m. The P shares, which will increase Exeter’s income from the league by well over 30%, were issued to the 13 established top-flight clubs in 2005.

Exeter Chiefs were entitled to buy shares from Leeds Carnegie because they have been outside the league for more than a year.

“This was a fantastic acquisition for the group and when we get the P Share dividends in the future we will see a significant increase to our income.” said chief executive Tony Rowe.

Isca Ventures advised Exeter Rugby Group, with legal support from Michelmores. Barclays provided the funding required to purchase the P Shares.

“We were delighted to continue to provide corporate finance support to Exeter Rugby Group. The acquisition of the P Shares will ensure Exeter Chiefs can continue to compete at the highest levels of British and European rugby.” added Mark Champion, partner at Isca Ventures.

Isca Ventures were invaluable in advising the Board and raising the required finance to enable the purchase of £5m Premier Rugby shares from Leeds Rugby. Our Board welcomed their support and would highly recommend the partner team at Isca Ventures.

Tony Rowe OBE - Chairman Exeter Rugby Group Plc