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Cardiff statement: Helford Capital takeover deal confirmed
URC strugglers Cardiff have confirmed that their takeover by Helford Capital will be completed on Wednesday after a club general meeting gave a 99.99 per cent approval for the deal to go ahead.
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Club representatives met on Tuesday evening and it was ultimately decided that the best decision was for the Welsh region to accept the majority shareholding offer.
A statement read: “Cardiff Rugby are delighted to confirm Helford Capital Limited’s acquisition of a majority shareholding in the company will be completed on Wednesday. A general meeting took place on Tuesday evening and the relevant changes to the company’s share structure and constitution to allow the acquisition received a 99.99 per cent majority approval.
“Several other amendments to the articles were also approved by shareholders, including changing the company’s name to Cardiff Rugby Limited and the introduction of additional heritage rights.
“Helford Capital, which is an investment group spearheaded by British businessmen Phil Kempe and Neal Griffith, will now become majority shareholders of the company, with Gareth Edwards appointed the club’s new president.
“It is a historic moment for Cardiff Rugby, which completes months of negotiations and secures the club’s long-term future… The investment group had already secured approval from the Welsh Rugby Union (WRU) and from Cardiff Athletic Club, who will retain a minority shareholding in the club.
“Cardiff Rugby Limited now look forward to working closely with all stakeholders including the new leadership of the WRU to deliver a stable and successful future for the Blue and Blacks and whole professional game in Wales.
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“The completion of this significant transaction brings an end to the formal relationship between Cardiff Rugby and the Thomas family, which spanned five decades. During that period Peter made an immeasurable contribution to his beloved club as a player, patron, benefactor, long-standing chairman and life president.
“His contribution has been recognised at the Arms Park with the renaming of the South Stand as the Peter Thomas stand, while a portrait in the trophy room was commissioned and unveiled last month.”
Cardiff Rugby chair Alun Jones said: “Today represents a huge moment in the history of Cardiff Rugby and gives us a bright, secure and exciting future. Following the sad passing of Peter Thomas, it was essential that we found new investment to safeguard the cub and drive us forward.
“We remain indebted to Peter, the Thomas family and the other shareholders who have moved on but we now have new owners who can help us fulfil Peter’s vision and ambitions for the club with renewed passion. Phil and Neal have a genuine appetite to restore Cardiff as a European force and have already begun stabilising the foundations.
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“With Helford Capital at the helm, we want to deliver exceptional rugby experiences whether you are a player, a member of staff, a supporter or sponsor. Helford have the resource and ambition to deliver that and we will now begin an inclusive process with all key stakeholders to build a new long-term strategy.”
New WRU chief executive Abi Tierney said: “Congratulations to Cardiff Rugby and everyone involved in the negotiations and process to seek new investment, which today has reached a hugely successful conclusion. We welcome Helford Capital wholeheartedly to Welsh rugby with a sense of excitement and optimism about what the future holds.”
Malcolm Wall, chairman of the WRU professional rugby board, added: “Firstly it is important to recognise and thank the Thomas family for their long-standing support of Cardiff and Welsh professional rugby as the club enters a new era under new ownership.
“The investment has been subject to a thorough process, and having met Neal and Phil, I am optimistic and excited about the future for Cardiff. Cardiff supporters should also be very excited about the future and I look forward to working with their new owners to help implement their vision.”
Comments on RugbyPass
“upon leaving said establishment I tripped over a stool knocking some bottles into the air and as I fell I accidently dislodged a police officer’s teaser who was passing by on an unrelated matter there by landing on said taser which caused it to discharge 50,000 watts into me. Out of shock I shouted Ireland are going to win the world cup. Upon waking up I apologised for the distress caused by my Ireland comment. The matter is closed. If you wish to pursue this matter may I remind you what I told Wayne Barnes when he sent me off. I AM A BIG ASS MAN”. Or was it “I AM A BIG ASS, MAN” or was it “I AM A BIG ASSMAN”?
1 Go to commentsThe only championship the Boks hold are: Great value for the incompetence of referees during the RWC Moaning endlessly and champions of spewing utterly ignorant 💩 at all times. Displaying the dangers of a third world education End of.
28 Go to commentsSouth Africa and Rassie do a phenomenal job of treating the 4 years in between World Cups as nothing more than a training exercise to build squad depth. The Six Nations money that keeps Irish rugby afloat is unfortunately too important to allow the same approach, and basic population size means we'll never get close to matching the depth of South Africa, England and France. That being said, Irish rugby is in a relatively good place and slowly improving inch by inch. If the other three provinces can pull the finger out and actually develop some players it'd be even better.
28 Go to commentsGood on Clarke for taking on the criticism and addressing his deficiencies, principally his laziness.
2 Go to comments“It is the people’s favourite against the actual favourite. It is the people’s champions against the actual champions. I’m joking, but it’s going to be a fantastic series.” Why did Darcy make that joke knowing it would be used as click bait? Why did RP headline it as a serious comment? Anyway, the tired comment isn’t very astute. SA players may have played more games etc. Darcy over estimated as a pundit.
28 Go to commentsNot sure Frisch will ever make the French team with Depoortère and Costes waiting in the wings to take over from Danty and Fickou.
1 Go to commentsThe Irish are tired and the Boks are old. The test series won't confirm who is best in the world, it will confirm which team needs to pursue the task of rebuilding with the most urgency.
28 Go to commentsGrant, the first time I have seen an article written by you. Maybe I have missed your previous stuff. These days all professional players effectively play a common season so all top players are equally tired, or rested. That is the job of the coaching ticket to build squad depth and juggle resources so players are ‘ fresh’ when the big games come. Possibly Ireland are less inclined to juggle squad compared to Rassie, who is prepared to take the risk to rest players as well as build depth throughout the year so come WC he has a full squad, experienced and rested enough to win 7 games. After all, to win WC you need to get through the tournament and then win the final big 3 games. Ireland should try and build a bit so come final 3 they are ready. So far only played final 1(QF). I am so looking forward to the Irish tour. Hopefully Rassie has enough time to align his guys, as he draws them from across the globe, and not from 2 sides locally( eg Leinster, Munster). No excuses, going to be exciting.
28 Go to commentsIn football, teams get fined and sometimes docked points for deliberately fielding weakened teams yet Leinster can pretty much do as they please with no comebacks. Could it be because Ireland run the URC? Could it be that Ireland run the ERC? Whichever it is, it stinks!!
6 Go to commentsIreland are only the People’s Champions in Irish eyes. The rest of the world do not care for them very much because of attitudes of people like Gordon, Ferris, Best, Jackman…I could go on!!
28 Go to commentsNot sure how Karl Dickson can ever ref a Quins game, he played for the club for 8 years as understudy to Care and is still close friends with half the team
3 Go to commentsAre bookies taking bets on how many times Vunipola's eventual statement will use the term “elders"? My money is on at least 4 times.
4 Go to commentsSo Ireland will be tired, despite having the most rested test squad in the world. They only play tests, champions cup and urc play off games ffs! Case in point; Leinster sent a B squad to SA for their last two games while their first xv rested up and trained at their leisure for the sf vs Saints at the so called ‘neutral venue’ of Croke Park. So tired? Do me a favour… And as for “people’s champions”? Seriously??? Outside of Ireland they are respected for their ability to win 6N. And of course plenty of inconsequential test friendlies without any real pressure. WC ko games when the pressure is white hot? Not so much…
28 Go to commentsSurprising how standing down or benching a player can do wonders for their motivation. Several players this week in that category.
2 Go to commentsHaha lads lads lads, that’s how you have a holiday In Majorca
4 Go to commentshit on Lynagh was defo late and card-worthy. The other 2 are bang on OK. Hurts you at Test level if youre timing is off and the nostrils are flared. Jerry C knew when to lean in on one, Finau just needs to keep his discipline and head straight.
7 Go to commentsSlade was exceptional against Gloucester. Not only was he doing the classic Slade stuff of running amazing lines and timing passes to perfection to put his wingers into space, he was kicking goals, flying off the line smashing people and crashing into rucks like a flanker… his hair even looked on point. 😍
1 Go to commentsThat’s really sad, hope everyone involved is ok. At least he had pants on.
4 Go to commentsTo be fair it was nowhere bear the Leinster first team (for which, btw, Leinster copped nothing like the outrage that Jake White did for sending a rotated team to the UK). But it’s fun to watch the Stormers doing their thing. They are attracting big, diverse crowds of young fans, and deservedly so. Great to see.
1 Go to commentsIt might be legal but he’s sailing pretty close to the wind. Not a lot needs to go wrong for Finau to end up in the bin. Was it late? Not quite, but borderline. High? A couple of CM within the laws, no room for error with that one. Did he wrap the arms? There was a token effort to wrap one arm, the intent was clearly to hit with the shoulder. So yeah, it’s legal, just. But as we all know, a very slight change in the dynamics could easily have him seeing red. Hopefully not when it really matters.
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