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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
The value he brought to the crusaders as an assistant was equal to what he got out of being there. He reflected not only on the team culture but also the credit he attributed to the rugby community. Such experience shouldn’t be overlooked.
3 Go to commentsGood luck Aussie
10 Go to commentssmith at 9 / mounga 10 / laumape 12 / fainganuku 14
40 Go to commentsBar the injuries, it’s pretty much their top team …
2 Go to commentsDon’t disagree with much of this but it appears you forgot Rodda and Beale, who started at the Force on the weekend.
10 Go to commentsExcept for the injured Zach Gallagher this would be Saders best forward pack for the season. Blackadder needs to stay at 7, for all of Christies tackling he is not dominant and offers very little else. McNicholfullback is maybe a good option, Fihaki not really upto it, there was a reason Burke played there last year. Maybe Havilli to 2nd five McLeod to wing. Need a strong winger on 1 side to compliment Reece
1 Go to commentsTo me TJ is clearly the best 9 in the competition right now but he's also a proven player off the bench, there's few playmaking players who can come off the bench as calm and settled as he is, Beauden can, TJ can and I doubt any of the scrumhalves in contention can, if they want to experiment with new 9s I want him on the bench ready to step in if they crumble under the pressure. The Boks put their best front row on the bench, I'd like to see us take a similar approach, the Hurricanes have been doing similar things with players like Kirifi.
40 Go to commentsROG has better chance to win a WC if he starts training and make himself eligible as a player. He won’t make the Ireland squad but I reckon he may get close with Namibia (needs to improve his Afrikaans) or Portugal. Both sides had 1000:1 odds to win the RWC in 2023 which is an improvement on ROG’s odds of winning a RWC as a coach. Unlike Top 14 teams, national teams can’t go shopping and buy the best players - you work with the available talent pool and turn them into world beaters.
3 Go to commentsthat backline nope that backline is terrible why would you have sevu Reece when he’s not even top 5 wingers in the comp why have Blackadder when there’s better players no Scott barret isn’t an automatic the guy is more of a liability than anything why have him there when you have samipeni who’s far far better
40 Go to commentsAh, good to find you Nick. Agree with everything about Cale. So much to like about his game
51 Go to commentsNot too bad. Questions at 6, lock and HB for me. The ABs will be a lot stronger once Jordan and Roigard return. Also, work needs to be made to secure Frizzell back for next season and maybe also Mo’unga; they’re just wasting time playing in japan
40 Go to commentsOn the title, i wonder for many of those people it is a case something like a belief in working smarter, not harder?
1 Go to commentsForget Sotutu. One of those whose top level is Super Rugby. Id take a punt on Wallace Sititi Finau ahead of Glass body Blackadder.
40 Go to commentsI’m a pensioner so I've been around a bit. My opinion of SBW is he is an elite athlete and a great New Zealander and roll model. He has been to the top and knows what he's talking about. To all the negative comments regarding SBW the typical New Zealand way, cut that tall poppy down.
17 Go to commentsI'm not listening to a guy moralise over others when this is the guy who walked out mid season on Canterbury RLFC when he had a contract with them, what a hypocrite. All the Kiwis sticking up for this unprincipled individual because they can't accept justified criticism, he has zero credibility or integrity. Those praising him are a joke.
17 Go to commentsI’d put Finau at 6 instead of Blackadder but that’s the only change I’d make. Can’t wait to see who Razor picks.
40 Go to commentsTamati Williams, Codie Taylor, and Same Cane? Not sure about Hoskins Sotutu at test level. Wasn’t that impressive last season. Need a balance between experience and talent/youth.
40 Go to commentsInteresting insight. Fantastic athlete, and a genuine human being.
17 Go to commentsThey played at night in Suva last weekend and it’s an afternoon game forecast for 19 degrees in Canberra this weekend. Heat change is a non issue.
2 Go to commentsWishing Rosie a speedy recovery
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