CVC buy share of prem

[jimKRFC]

The deal is done; https://www.bristolbearsrugby.com/news/ ... rtnership/

One step closer to ring fencing I feel.

[francoisfou]

Just in time before Leicester are relegated.

[fivepointer]

"Premiership Rugby has completed a deal thought to be worth around £230m with the private equity firm CVC Capital Partners and has moved to ease concerns the windfall will be splurged on player wages.

The 12 Premiership clubs, as well as the Championship leaders London Irish, will each receive around £18m from the deal, having agreed to sell CVC a 27% stake.

The deal was finalised on Wednesday after the clubs failed to reach an agreement at a previous board meeting. The initial approach from CVC, which made £8bn from its ownership of Formula One, was £275m for a majority stake but the clubs voted against ceding control in September.

While some clubs such as Bath and Saracens are likely to use the windfall for stadium redevelopments, there are concerns other clubs will look to strengthen their squads and thereby inflate rapidly growing wages.

Premiership Rugby hopes such short-termism will be avoided with the £7m salary cap to remain for at least the next two years and has urged the clubs to invest in “operations and infrastructure” having made a collective loss of £28.5m last year"

Mmmmm...invest in stadia, training facilities, additional coaches, expand the academy or go for a high priced import? We'll see.

[Bloggs]

"Premiership Rugby has completed a deal thought to be worth around £230m with the private equity firm CVC Capital Partners and has moved to ease concerns the windfall will be splurged on player wages.

The 12 Premiership clubs, as well as the Championship leaders London Irish, will each receive around £18m from the deal, having agreed to sell CVC a 27% stake.

The deal was finalised on Wednesday after the clubs failed to reach an agreement at a previous board meeting. The initial approach from CVC, which made £8bn from its ownership of Formula One, was £275m for a majority stake but the clubs voted against ceding control in September.

While some clubs such as Bath and Saracens are likely to use the windfall for stadium redevelopments, there are concerns other clubs will look to strengthen their squads and thereby inflate rapidly growing wages.

Premiership Rugby hopes such short-termism will be avoided with the £7m salary cap to remain for at least the next two years and has urged the clubs to invest in “operations and infrastructure” having made a collective loss of £28.5m last year"

Mmmmm...invest in stadia, training facilities, additional coaches, expand the academy or go for a high priced import? We'll see.

Kieran Reid is available...(but sadly a time machine to 5 years ago isn't)

[Digby]

The clubs en masse elect for jam today, not hugely surprising, and we don't yet know whether cvc will prove valuable to the game

[Puja]

I hate the continued repetition of "Wages won't rise because we have a salary cap." Stupidly disingenuous as everyone knows there are two marquee players and there's nothing to stop them bunging £2m per year at Kieran Read. I'd prefer greater guarantees that this money is going to be ringfenced for off-pitch investment, rather than bland smiles and assurances of "Of course we wouldn't! That would be short-sighted and unprofessional and highly out of character for us!"

Puja

[Raggs]

I'm fairly confident wasps will earmark debts and training facilities for it thankfully.

[Puja]

Leicester have their hotel and car park project, Sarries are looking at extending Allianz and Bath may eventually get a new stadium. So that's 4 of the 13 accounted for. Anyone know if any of the others have their designs drawn up for the cash?

If I was going to pick a side to go rogue and spend it on players, it'd be Sale.

Puja

[Raggs]

Glaws are surely looking into renovating.

[Digby]

We can only hope they keep the shed

[Bloggs]

Quins looking to redevelop the Stoop - I believe plans will be out early next year

[fivepointer]

suggestions where the windfall could be spent - https://www.rugbypass.com/news/where-an ... n-windfall

[Puja]

suggestions where the windfall could be spent - https://www.rugbypass.com/news/where-an ... n-windfall

Great article, thanks.

Puja

[Mellsblue]

I know it’s the Daily Mail but hold your nose and have a read:

https://www.dailymail.co.uk/sport/rugby ... ssion=true


You might want to keep hold of your nose whilst reading.

[Puja]

Ugh. Just ugh.

Puja

[fivepointer]

Brave new world, eh?
I've no issue with the clubs providing better facilities, being better run and more money from tv and sponsorship coming in. New funding could really drive improvements for spectators and raise the level of rugby we see in the Premiership.
Talk of finding new markets to see Prem rugby is all well and good, but it has to be a product people will want to see.
Weren't great riches promised by the organisers of the Champions Cup when the Heineken Cup was ditched? That hasnt quite worked out, has it?
I'm going to adopt a wait and see approach to this stuff.

[Which Tyler]

It's like 1895 all over again (or 1977 for cricket).
This time though, there won't be an amateur code to fight, but a fully professional one.

Have any of these "breakaway league"s ever actually worked out well for the breakaway? I guess rugby league still exists, but it's hardly in rude health compared to union...

[Puja]

The clubs are now downplaying it saying that it's been sensationalised by the Mail and they never had any plans. Whether true or not, I think the negative publicity has put them off.

I'm actually starting to come around to the idea of ringfencing. Since the RFU are steadfastly refusing to do anything about making the Championship viable, it does seem as though we might be best just concentrating on the viable pro clubs we have rather than expecting a new one to spring out of nothing. I'd still be in greater favour of a two tier 16/18 team ringfence and keeping the top level smaller, rather than having a 14 team league, but I can see the logic.

Puja

[Mellsblue]

As per the times, CVC are now after a share in the 6N and are in advanced negotiations with the Pro14.
Also says that if the 6N refuse to join Pichot’s global league that SA, NZ and Aus will boycott the AI’s.

[Epaminondas Pules]

As per the times, CVC are now after a share in the 6N and are in advanced negotiations with the Pro14.
Also says that if the 6N refuse to join Pichot’s global league that SA, NZ and Aus will boycott the AI’s.

That’s be hilarious if they pulled that card, though I can never see it happening.

[Raggs]

As per the times, CVC are now after a share in the 6N and are in advanced negotiations with the Pro14.
Also says that if the 6N refuse to join Pichot’s global league that SA, NZ and Aus will boycott the AI’s.

That’s be hilarious if they pulled that card, though I can never see it happening.

I presume they expect us to reply that mid year tours would be a thing of the past too, as would the lions to their countries.

It seems a sort of "Right then Spivs, stop playing one of the most iconic tournaments in the world between yourselves, or we'll blow our brains out!".

[Puja]

As per the times, CVC are now after a share in the 6N and are in advanced negotiations with the Pro14.
Also says that if the 6N refuse to join Pichot’s global league that SA, NZ and Aus will boycott the AI’s.

That’s be hilarious if they pulled that card, though I can never see it happening.

I presume they expect us to reply that mid year tours would be a thing of the past too, as would the lions to their countries.

It seems a sort of "Right then Spivs, stop playing one of the most iconic tournaments in the world between yourselves, or we'll blow our brains out!".

To be fair, the British are not currently in a position to criticise that kind of negotiating technique.

Puja

[Mellsblue]

As per the times, CVC are now after a share in the 6N and are in advanced negotiations with the Pro14.
Also says that if the 6N refuse to join Pichot’s global league that SA, NZ and Aus will boycott the AI’s.

Again/as always via the times, CVC have offered £5mil for 30% of the 6N.

[Stom]

As per the times, CVC are now after a share in the 6N and are in advanced negotiations with the Pro14.
Also says that if the 6N refuse to join Pichot’s global league that SA, NZ and Aus will boycott the AI’s.

Again/as always via the times, CVC have offered £5mil for 30% of the 6N.

£5 million?

Surely they'll be laughed out of the park...

[Mellsblue]

As per the times, CVC are now after a share in the 6N and are in advanced negotiations with the Pro14.
Also says that if the 6N refuse to join Pichot’s global league that SA, NZ and Aus will boycott the AI’s.

Again/as always via the times, CVC have offered £5mil for 30% of the 6N.

£5 million?

Surely they'll be laughed out of the park...

Ha, sorry. £500mil!!!!!!!