Fresh investment sees Bruce Craig give up sole ownership of Bath Rugby

Bath Rugby have today announced that Sir James Dyson has acquired a 50 per cent ownership stake in the group comprising Bath Rugby, Arena 1865, the club’s stadium development company, and the Farleigh training facilities.

Dyson, whose company is the club’s main sponsors, will commit substantial new capital to the group to reduce existing debt and support the development of the club’s new stadium, entering into a joint partnership with Bruce Craig. Craig had previously been sole owner and bankrolled the club’s attempt to bring back the glory days.

Since acquiring the club in 2009, Craig had enjoyed no return on his huge investment in terms of trophies, until last season’s historic treble-winning campaign rewarded him for his unswerving commitment.

In the last published set of accounts, Bath’s recorded a loss of £3.68m for the last financial year, with the balance on Craig’s loan standing at a cool £3o.1m. The loan is interest-free and payable at 12 months’ notice.

Now, Dyson and Craig will share the financial load, with the latter continuing to run Bath Rugby and lead the club’s next phase of development on and off the field.

Dyson, who has supported Bath Rugby for more than 45 years, said the partnership was deeply personal.

“This is the club I have supported for most of my life. My children and my grandchildren do so too. I stood on the terraces and have watched the high moments as well as the difficult years,” he said.

“Bruce deserves enormous respect for rebuilding the club to be the force that it is today and I am not here to change that. I am here to support, just as I have for the past 45 years but now with greater commitment and responsibility.

“My family and I are proud to stand alongside Bruce as equal partners to further strengthen the foundations of Bath Rugby, realise the new stadium and help ensure its future. Bath Rugby matters deeply to this city and its wonderful supporters who are the most dedicated in the land.”

Craig said the partnership represented continuity and alignment. “This has never been a short term project. From the beginning the aim has been to build something resilient, competitive and worthy of the club’s history.

“James understands Bath Rugby first and foremost as a supporter and a friend. His family has stood behind the club for decades and it always felt inevitable that our paths would align in this way.

“I will continue to run Bath Rugby and together we will strengthen its foundations, realise the new stadium and build the club for generations to come.”

PREM Rugby have also welcomed fresh investment into one of its 10 participating clubs, which follows on from Red Bull’s takeover of Newcastle.

Chief Executive Officer of PREM Rugby, Simon Massie-Taylor, said: “This is great news for Bath Rugby and their loyal and dedicated fans.

“This announcement is testament to the stewardship of Bruce Craig and his leadership team at the club and confirms just how attractive PREM Rugby now is to investors.

“Everyone associated with PREM Rugby is excited to see Bath continue to grow as they now accelerate their exciting plans for their new stadium.”