Pro14 secures CVC Capital Partners investment
PRO 14 has sold 28 percent of its stake to CVC
©PA
The Pro 14 has received a major boost after CVC Capital Partners has acquired 28 per cent stake in the league for a worth around £120m according to reports.
The remaining 72 per cent of stake will remain with the unions allowing the both PRO14 Rugby and the Irish, Italian, Scottish and Welsh rugby unions to continue to develop the game.
Chief executive of Pro 14 Martin Anayi will continue to lead the management team working closely with CVC and the unions on execution of the commercial plan.
"CVC’s show of faith has been impressive and is in keeping with their proven track record of success when it comes to sports investment, including Formula 1, Moto GP and Premiership Rugby. This partnership allows all of our stakeholders to plan for a sustainable period of growth, which will benefit the fans, the players and the game," he told.
“We are very pleased to partner with CVC, who saw us as an ambitious, fast paced and innovative organisation, situated across a number of core rugby nations that can deliver an increasing impact.
“We have been clear that we believe the Guinness PRO14 is a world-class club league, that is still in its growth phase and we are confident that it will become a major standard bearer in our sport. We are excited that CVC clearly shares that ambition and we look forward to working with them to deliver on the league’s promise in the years ahead.”
CVC already has a minority stake in England's Premiership Rugby, reported to be worth more than £200m and is in discussion to acquire a stake from Six Nations.
