Gloucester confirm discussions with Montpellier owner on potential investment

Gloucester Rugby have confirmed that they are in discussion with the French club Montpellier owner and billionaire Mohed Altrad on a "potential shareholder interest".

A statement released by the Aviva Premiership club revealed that the discussions are still on and further stressed that in case of the deal going through both Gloucester and Montpellier will remain seperate entities and will maintain their own identities.

"Any agreement would need to have the consent of the relevant regulatory bodies, and currently there is no agreement entered into, or guarantee of an investment.

"In the event of any investment, both Gloucester Rugby and Montpellier will remain separate entities, independent and autonomous from each other.

"Both clubs would be extremely keen on maintaining their own identity, culture and governance.

"Any potential investment in Gloucester Rugby would be seen as an important opportunity to develop the club, the players and make an important contribution to the community, priorities the Board has always evoked.

"Gloucester Rugby remain committed to keeping supporters informed with regards to any developments."

Martin St Quinton, who was a major shareholder of Cherry and Whites since 2008 had completed a full takeover of the club earlier this year after purchasing the remaining shares from Walkinshaw family.

For Altrad to buy majority shares from Gloucester, it needs ratification from Rugby Football Union, French Rugby Federation and World Rugby.

It also needs approval from European Professional Club Rugby organisers to avoid any potential conflict of interest at a later stage.