English rugby attracts another new investor as Champ follows PREM lead

Investor interest has seeped into the second tier of English rugby, with Richard Wastnage, the co-founder and owner of the Pharmaxo Group of companies, joining the Cornish Pirates’ ownership consortium.

As well as healthcare, Wastnage is also an owner of current club sponsor One Atlantek – a luxury hospitality, property management and rental business based in Cornwall, who will continue their sponsorship with the Champ club next season.

It follows on from Red Bulls’ buy-out of Newcastle on the eve of the 2025/26 PREM season, James Dyson taking a 50% stake in Bath Rugby and the imminent takeover of Exeter Chiefs by AFC Bournemouth’s owners, Black Knight.

The businessman, who is a passionate rugby and cricket fan as well as a cyclist and golfer, is the fifth member of the consortium, which was set up at the end of 2024 to fill the void left by long-time benefactor Dicky Evans.

He joins Martin Hudson, Philip Champ, Anthony Whyte and Lee Miles in bankrolling the club.

“I’m really looking forward to helping the Pirates to build on their strong and vibrant rugby culture, heritage and supporter engagement both on and off the field,” said Wastnage.

“This Saturday’s game (Pirates vs Coventry) should be exciting, so I can’t wait to be there at The Mennaye and experience the atmosphere in person” he added.

Cornish Pirates CEO, Sally Pettipher, said: “From our first meeting, I knew that Richard would be a brilliant fit, and a huge asset to Pirates. He has a deep understanding of rugby, a love for Cornwall, and his insight into our current operations and development plans have been incredibly valuable already.

“He made an immediate connection with (joint-head coaches) Gav (Gavin Cattle) and Paves (Alan Paver), and has been welcomed by his fellow consortium members. In no time, it feels as if he has always been with us.

“We are grateful for his support and looking forward to a strong future together.”

The new investment is particularly timely for the Pirates who were left counting the cost of Storm Goretti and Storm Ingrid four months ago.

Hundreds of thousands of pounds worth of damage was caused to their Mennaye Field ground and the club launched an appeal to recover some of the losses.