Leicester Tigers have confirmed that the Premiership club has been put on sale while also revealing long-term strategic plans as they seek redemption after a tough 2018/19 season.
A statement released by the Welford Road unit stated that the sale process was decided on the best interest of the club, its players and support staffs and confirmed that there has been no net debt after receiving £13m following CVC's acquisition of a 27% stake in Premiership Rugby.
“CVC’s investment in Premiership Rugby has created a unique opportunity – catapulting the sport into the public consciousness like never before and broadening its appeal to potential investors," said Leicester Tigers Executive Chairman Peter Tom.
It is our duty as a Board to explore the Club’s strategic options and assess the best possible ownership structure to benefit from the changes ahead on and off the pitch.”
Leicester Tigers have been the most successful team in the history of the Premiership with 10 titles but haven't won any following the 2012/13 season.
“The investment and changes in English Premiership rugby present a huge opportunity for the Club and a new investor," said Leicester Tigers Chief Executive Simon Cohen.
"As the most prestigious club in English rugby, this development will further support Leicester Tigers in its ambition to be the most successful club in England and Europe, to the benefit of our players, the Club and our loyal supporters.”