Leicester Tigers confirm club is no longer for sale

Gallagher Premiership club Leicester Tigers have confirmed that they are no longer for sale.

The Tigers started the sale process in June last year but now have withdrawn it with the uncertainty in the market due to the outbreak of coronavirus and the brexit.

"Despite a high level of interest from potential new investors, the board has concluded that it is unlikely an offer for the company will materialise from an investor who shares the club's vision of the future and at a value attractive to shareholders," read a statement from the club.

"Taken together, the impact on an uncertain market of Brexit and now Covid-19 have created significant challenges for all clubs this season.

"It nonetheless remains the case that attractive growth opportunities are within English rugby's grasp and will benefit clubs, players and fans alike.

"Given its status as the country's premier rugby club in terms of supporter base and track record, the board is optimistic that its strategy for the club will return it to the top of the English and European game as rugby attracts new audiences and explores exciting new opportunities."

Meanwhile, Tigers executive chairman Peter Tom stressed that the immediate motive of the club is to safeguard the team and the support staff with Covid-19 spread on the rise.

“While we were pleased with the level of interest in the club, none of the prospective new investors were judged to fulfil our criteria.

“Now, our immediate focus is on managing the ongoing impact of the Covid-19 pandemic and doing all we can to safeguard the well-being of Tigers staff, players and fans.

“We have devoted considerable energy to improvements on and off the field and remain confident that we have the right long-term strategy for the club.”