Cornish Pirates target PREM after securing 'first of its kind' US investment

Cornish Pirates have brought in external backing from the United States in a deal thought to be the first direct US investment into an English professional rugby club.

Pittsburgh-based Stonewood Capital principals Kenn Moritz and John Tippins are behind the move, adding financial clout to the RFU Championship club.

The deal is part of the Pirates’ long-term strategy, which includes ambitions to break into the Gallagher PREM. Pirates currently sit in seventh on the Champ table and set to play Hartpury in bid to make the play-offs.

A club statement reads: “This transatlantic partnership represents a major milestone in the club’s evolution, reinforcing the growing global appeal of rugby and the unique opportunity presented by Cornish Pirates’ long-term vision.

“Moritz and Tippins bring not only investment but deep experience from one of the United States’ most established sporting cities. Pittsburgh is home to a rich portfolio of professional sports franchises and is currently bidding to be a host city for the Rugby World Cup in the USA in 2031.

“Their involvement signals confidence in both the club’s ambitions and the wider potential for rugby’s growth in the US market.

CEO Sally Pettipher said: “This is a hugely significant moment for Cornish Pirates. To attract investment from experienced US investors of this calibre is a powerful endorsement of our strategy, our people and our long-term vision to build real value, both financial and social.”

The investment supports a 10-year plan to grow partnerships, develop local talent through an academy and push for PREM status, positioning Cornish Pirates “at the forefront of rugby’s globalisation, bridging two markets with strong sporting cultures and shared ambition” ahead of the 2031 Rugby World Cup.

Kenn Moritz said: “We see a compelling opportunity in Cornish Pirates — a club with a proud history, a passionate community and a clear strategic plan for growth. Rugby is entering an exciting global phase, and we believe this investment places us at the heart of that journey.”

John Tippins added: “Coming from Pittsburgh, we understand the power of sport to unite communities and drive economic growth. Cornwall has that same passion, and we are excited to support the Pirates as they build something truly special.”