Select Edition

Northern Northern
Southern Southern
Global Global
NZ NZ

'CVC's belief in our sport is clear': The £120m PRO14 windfall has caused a reaction

By Online Editors
(Photo by Ian MacNicol/Getty Images)

Two of the member unions set for a timely financial windfall have hailed the sale of a 28 per cent stake in the PRO14 to CVC Capital Partners, the investment firm who purchased a 27 per cent slice of the English Premiership in 2018. 

ADVERTISEMENT

The Luxembourg-based group, who previously invested in Formula One before switching its attention to rugby, have spent £120million acquiring the stake in the five-nation league featuring 14 teams from Ireland, Scotland, Wales, Italy and South Africa.  

The total value to the Irish, Italian, Scottish and Welsh unions is in the order of £30m each (net of costs), with an initial sum expected on Friday of approximate £5m to be paid to each of the four countries. South Africa, who have Southern Kings and Cheetahs playing in the league, won’t benefit from this deal.

Video Spacer

RugbyPass brings you Game Day, the behind the scenes documentary on the 2018 Guinness PRO14 final between Leinster and Scarlets in Dublin

Video Spacer

RugbyPass brings you Game Day, the behind the scenes documentary on the 2018 Guinness PRO14 final between Leinster and Scarlets in Dublin

The CVC buy-in follows a reputed £200m buy into the Premiership and talks about a possible 14 per cent buy into the Six Nations initially valued at £300m (talks are said to have been delayed regarding the Test level tournament due to the coronavirus pandemic).

With rugby concerned about its financial outlook following the indefinite suspension of the sport due to the virus outbreak, the CVC investment in PRO14 is very timely and has been warmly welcomed by Welsh Rugby Union chief executive Martyn Phillips. 

“Celtic Rugby has been working hard on this partnership for a considerable amount of time,” he said. “It is to the credit of everyone involved that the deal is now over the line and we look forward to a sea change in the ability of the PRO14 to realise its full potential.

“CVC’s belief in our sport is clear. Their commitment is hugely encouraging and this investment is great news for our teams and for Welsh rugby as a whole, although we are under no illusions that Covid has and will continue to have a significant impact on our organisation for some time.

ADVERTISEMENT

“The Guinness PRO14 is a cross-border competition which brings unique challenges in the current climate, but this is a ringing endorsement for the recent evolution of the competition.”

Scottish Rugby chief executive Mark Dodson added: “We believed and were quite clear that the potential for external investment into our sport was possible and were in the vanguard of this through the delivery of the CVC partnership.

“The conclusion of the CVC investment into PRO14 is the culmination of a huge amount of work and is a welcome positive boost for the sport in these extremely challenging times.

“It demonstrates confidence in the future of rugby in Scotland and our PRO14 partner nations and shows the tournament is an attractive commercial proposition, which is open to innovative thinking and partnership working.

ADVERTISEMENT

“This deal has a value to rugby in Scotland and the PRO14 beyond the financial transaction as it brings CVC’s knowledge and influence on board, which we look forward to seeing the benefits of in the years to come.

“Our current focus remains on supporting the rugby community at every level at this difficult time and keeping our staff, players and all those associated with the game safe.”

ADVERTISEMENT

Join free

Aotearoa Rugby Podcast | Episode 6

Sam Warburton | The Big Jim Show | Full Episode

Japan Rugby League One | Sungoliath v Eagles | Full Match Replay

Japan Rugby League One | Spears v Wild Knights | Full Match Replay

Boks Office | Episode 10 | Six Nations Final Round Review

Aotearoa Rugby Podcast | How can New Zealand rugby beat this Ireland team

Beyond 80 | Episode 5

Rugby Europe Men's Championship Final | Georgia v Portugal | Full Match Replay

Trending on RugbyPass

Comments

Join free and tell us what you really think!

Sign up for free
ADVERTISEMENT

Latest Features

Comments on RugbyPass

B
Bull Shark 3 hours ago
Jake White: Are modern rugby players actually better?

Of the rugby I’ve born witness to in my lifetime - 1990 to date - I recognize great players throughout those years. But I have no doubt the game and the players are on average better today. So I doubt going back further is going to prove me wrong. The technical components of the game, set pieces, scrums, kicks, kicks at goal. And in general tactics employed are far more efficient, accurate and polished. Professional athletes that have invested countless hours on being accurate. There is one nation though that may be fairly competitive in any era - and that for me is the all blacks. And New Zealand players in general. NZ produces startling athletes who have fantastic ball skills. And then the odd phenomenon like Brooke. Lomu. Mcaw. Carter. Better than comparing players and teams across eras - I’ve often had this thought - that it would be very interesting to have a version of the game that is closer to its original form. What would the game look like today if the rules were rolled back. Not rules that promote safety obviously - but rules like: - a try being worth 1 point and conversion 2 points. Hence the term “try”. Earning a try at goals. Would we see more attacking play? - no lifting in the lineouts. - rucks and break down laws in general. They looked like wrestling matches in bygone eras. I wonder what a game applying 1995 rules would look like with modern players. It may be a daft exercise, but it would make for an interesting spectacle celebrating “purer” forms of the game that roll back the rules dramatically by a few versions. Would we come to learn that some of the rules/combinations of the rules we see today have actually made the game less attractive? I’d love to see an exhibition match like that.

29 Go to comments
TRENDING
TRENDING England No8 Sarah Beckett banned after leg-breaking croc roll tackle England No8 Sarah Beckett banned after leg-breaking croc roll tackle
Search