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CVC's touted £300m investment in the Six Nations suffers another complication - reports
Fears that the cash-hungry Six Nations will fail to close its touted deal with CVC Capital Partners have grown following claims that a pitch by England, Scotland and Wales for a UK Government pandemic bailout has now affected negotiations.
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Six Nations administrators were reported last February to be near to clinching a £300million investment for giving up a 14 per cent stake in the tournament.
Each of the six countries involved were believed to be set to bank a massive windfall – up to £70million in England’s case – if the deal went through. However, the pandemic shutdown of rugby put those talks on the long-finger and the matter has now been complicated by recent English, Welsh and Scottish approaches to Government asking for financial assistance.
According to a report in the Daily Mail, the complication is that any Government funding would need to be quickly repaid if the financial outlook for the RFU, WRU and SRU is enhanced by the completion of the CVC deal.
CVC have recently become a major player on the rugby scene, securing a 27 per cent £200m stake in the Gallagher Premiership while also agreeing a 28 per cent £120m buy into the PRO14.
The countdown continues…. ? #GuinnessSixNations pic.twitter.com/8GTDwnnbuG
— Guinness Men's Six Nations (@SixNationsRugby) October 9, 2020
Their interest in netting a piece of the Six Nations, though, has become uncertain in recent weeks with the RFU submitting financial records to the Department for Digital, Culture, Media and Sport amid claims they faced losses of £60m and a revenue reduction of £138m due to the pandemic.
The WRU have bolstered their financial situation by taking out a £20m bank loan but they, along with the SRU, are also looking for UK Government assistance.
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With the delayed 2020 Six Nations set to restart on October 24 in Dublin, with a full round of matches scheduled to complete the tournament a week later, the emergence of this complication in talks with CVC is the latest stumbling block for the competition this week.
Already there are rumoured discussions about delaying the planned early February start to the 2021 tournament due to the current situation in the UK where fans are not permitted at sports events due to health restrictions.
It’s feared that continuing to play in empty stadiums, as will happen in coming weeks, is pointless as the unions are crying out for matchday revenue to help stem the major financial losses of the past seven months.
Going to Boris with cap in hand https://t.co/pgASZTMoje
— RugbyPass (@RugbyPass) October 9, 2020
Comments on RugbyPass
What a sad way to end a glittering career. Somebody should tell him to delete his social media accounts and face the consequences of what he's done. Then he should slip away quietly into obscurity. This isn't likely to happen, something tells me he'll be back in The Sun / Daily Mail sooner rather than later.
2 Go to commentsguys its fine! he understands why he did what he did and has taken accountability for it; why should he have to be accountable to a court? after all he did was abuse people in person - its not as if he was engaging in _online_ abuse!
2 Go to commentsChiefs flanker Kaylum Boshier yellow-carded for collapsing the scrum as it rolled towards the line. It was a maul….
1 Go to commentsyou know, i’m a leinster fan so I want Northampton to lose and it is gonna be tuff with Cortney lawes, Alex michell and the other guys🏉 lets go leinster🏉
1 Go to commentsWelcome to the Pro ranks. Those hard teams of old do hit the sole better though. its a dog fight at the top.
6 Go to commentsCan someone fill me in please, I've read a number of Ben Smith articles now and it seems he's got something again South Africa? Surely, this game was over and done with 7 months ago. Can't we have something a bit more interesting and relevant, or is this the calibre of journalist on this site?
227 Go to commentsNot sure what the Welsh are moaning about. They’ve had far more players off England, than England have had off Wales. Guys like Josh Hathaway and Kane James will play for Wales in the end. And they’ll be fsr better players for having played in the Gallagher Premiership, than they ever would have been had they stayed mired in the shambles that is Welsh rugby.
3 Go to commentsThis is all being blown totally out of proportion. First of all, since half the Irish team isn’t Irish - it’s very likely that none of the Irish players said that at all and, thus, we’re not being arrogant. Second, since half the Irish team is Kiwi - it’s very likely the Kiwi players were predicting a NZ SA World Cup final. Which they got spot on. Good on them!
163 Go to commentsAha. An Irishman with logic! Follow the flow: - Ireland peaks with a >80% win record between 2020 and 2023. And then… - crashes out of another QF at the WC; - Beat a poor French Team; - Beat 6N wooden spoonists Italy; - Play shite against eventual wooden spoonists Wales; - Lose against the most boring, “the worst English team ever” , a team widely regarded as unable to attack; - scrape through against Scotland. This article, No - Trimble, is on the money! Except for one glaring statement: _The Springboks have a few aces in the hole in this debate being the reigning world champions and official world number ones_ There is no debate, boys and girls. There it is. In black and white. “Reigning World Champions and OFFICIAL world number ones”. Come July, the overrated Andy Farrell and this overhyped team are going to enter into a world of hurt.
86 Go to commentsI’d like to know what homoerotic events Daniel enjoyed at 8th man. I clearly missed out!
19 Go to commentsThis article is missing some detail, like some actual context or info about what led to him abusing the ref.
2 Go to comments*They used to say that football is a gentleman sport watched by hooligans and rugby is a hooligan sport watched by gentlemen. How times have changed.*
3 Go to commentsexcept ot wasnt late wasnt late at all so dont know why you all saying its late he commits early and its your fault fir not paying attention
30 Go to commentsNot sure the Bulls need another average utility back in their ranks. Chamberlain has been ok for the Sharks but is by no means an X-Factor player. Bulls bought several utility backs which they barely use. A typical example would be Henry Immelman who plays mostly Fullback. The Bulls however have rarely played him this year and he has played wing or centre. Bulls want to build depth but seems like they have too many surplus players
1 Go to commentsABs lost against a side playing without a hooker - The guy playing, had one shoulder. Line outs were a gimme for the ABs, and the last 8 minutes 14 played 14 against a team that had been smashed 3 weeks in a row… Yet with all that possession, with all that territory, with all the advantages they actually had, especially in the last 8 minutes, they couldn’t buy a point. Those last 8 minutes determined if they outplayed the Boks or not. History will show that the Boks completely outplayed the ABs, especially in those last 8 minutes, the business end of any rugby match
227 Go to commentsWould’ve, could’ve, should’ve, didn’t.
227 Go to commentsKok will become a fan favourite
1 Go to commentsI am really looking forward to Leigh Halfpenny playing his first Super rugby game for the Crusaders Playing a long side his former Welsh and Scarlets team mate Johnny McNicoll.Johnny has been playing great, back in a Crusaders jersey.The attack has strengthened big time. Also looking forward to David Havili at 10. David is a class act, it also allows Dallas McLeod to remain at 12. A good thing.
1 Go to commentsIf he had stopped insisting on playing in the backrow, instead of wing, where everyone told him he should, he would have been a Bok years ago….
11 Go to comments‘Salads don’t win scrums’ 😂 I love that.
19 Go to comments