Premiership Rugby to consider £275m takeover of league from CVC
Premiership Rugby owners will converge for a meeting next week after they were approached for a potential takeover of the league.
If goes through, the deal will be the biggest in the history of club rugby and according to a report in The Times, it is understood that former F1 owners CVC Capital Partners have expressed their interest to buy 51% stake at £275m.
The umbrella organisation that represents the 12 Premiership clubs has already been in negotiation with CVC for more than a year and a Premiership Rugby spokesperson confirmed the news but added that no final decision has been taken yet.
"The board is always considering options for further expansion and the best ways to support that," said a Premiership Rugby spokesperson.
"This interest is of course very good news for Premiership Rugby and is a reflection of its growing international appeal. But a decision is not imminent."
The deal could be beneficial to the clubs involved in the competition considering the losses they made recently. Worcester Warriors and Harlequins reported £8m and £6m loss respectively while Exeter Chiefs were the only club to report profit.
Nevertheless, a private equity firm taking over the league could only make the gap between the clubs and the Rugby Football Union wider.
The 2018/19 season of Gallagher Premiership kicked-off on 31st August at Ashton Gate where Bristol completed a 17-10 win over Bath Rugby.
